News

GREECE: Coca-Cola Hellenic Bottling Co H1 profits down

Most popular

Campari faces familiar troubles - analysis

Why 'disaster' is no hyperbole for French wine

COVID prompts spirits RTD tsunami - comment

How A-B InBev's Brito changed the drinks industry

Will 2020 see Campari Group back on the M&A hunt?

MORE

Coca-Cola Hellenic Bottling Co has reported a 4% drop in net profits for the first half of 2009, but saw earnings rise in the second quarter.

Net profits, excluding one-off charges, for the six months to the end of June fell to EUR200.7m (US$289m), compared to EUR209.6m in the same period of 2008, Coca-Cola Hellenic (CCHBC) said today (6 August). Operating profits fell 1% to EUR310m.

However, net earnings rose by 7% in the second quarter to EUR193.5m. Cost savings and lower commodity costs boosted earnings in the quarter, the Greece-based soft drinks bottler said.

Net sales slipped by 1% for the half-year, to EUR3.26bn, and dropped by 3% in the second quarter, due to a negative price mix. Volume sales rose by 2% for the six-month period, to EUR1.03bn unit cases.

"Challenging global economic conditions continued to impact negatively consumer spending and our sales volumes in the second quarter," said group managing director Doros Constantinou.

"However, we gained volume and value share in the non-alcoholic ready-to-drink category across many of our key markets in the first half of the year, which bears testament to our strong portfolio of products and marketplace execution."

The group reported a 10% volume sales decline in Russia for the first half, due to the effects on the global economic downturn on the country's consumers. Volumes fell by 15% in the first quarter, but the decline narrowed to 7% in the second three months.

The firm said that it expects trading in the second half to "remain challenging" across its markets.

During the half, CCHBC began restructuring in Ireland, Austria and Italy. The group has cut more than 4,500 jobs since the second quarter of 2008.

Last month, the bottler created the new role of chief operating officer.


Related Content

Third-quarter sales approach parity for Coca-Cola Hellenic Bottling Co - results data

Third-quarter sales approach parity for Coca-Cola Hellenic Bottling Co - results data...

Fourth-quarter volumes knock dents Coca-Cola HBC recovery - results data

Fourth-quarter volumes knock dents Coca-Cola HBC recovery - results data...

Diageo takes US$1.3bn write-down after

Diageo takes US$1.3bn write-down after "year of two halves" - results...

Suntory Beverage & Food wary of lockdown return as H1 sales drop - results

Suntory Beverage & Food wary of lockdown return as H1 sales drop - results...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?