GREECE: Coca-Cola Hellenic records H1 profits rise
Coca-Cola Hellenic said it saw improved performances in Eastern Europe
Coca-Cola Hellenic Bottling Co has delivered a “robust” operating performance in the first-half of 2010, with improved performances in Eastern Europe.
For the six months to 2 July, on a comparable basis, net profits remained relatively flat at EUR200.9m (US$262m) compared to EUR200.7m in the prior year, the Greece-based firm said today (29 July).
Operating profits increased 3% to reach EUR320m, while net sales edged up 1% to EUR3.30bn.
Volumes however, dropped 2% on the prior year to 1,009m unit cases.
For CCHBC's second quarter, net profits slid by 11% to EUR172m, while net sales rose 2% above the prior year period to reach EUR1.92bn.
Operating profits amounted to EUR264m, 2% down year-on-year.
CCHBC's CEO, Doros Constantinou, said: “The broad geographic spread of our business enabled us to deliver a robust operating performance in the first half of the year, with the effects of increasingly challenging conditions in specific key countries being offset by improving trading performances in other markets, particularly in Eastern Europe.”
Click here to view the full earnings release.
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