The world's No. 2 bottler of Coca-Cola Co drinks, Coca-Cola HBC, posted a first-quarter loss of €35.8 million; the company was hurt by currency losses predominantly in its Ukrainian operations. The bottler reported a net loss of €35.8 million ($49.1 million) for the first three months of the year, excluding restructuring and other one-off items, versus analysts' average predictions of a €17 million loss in a Reuters poll. The sharp devaluation in the Ukranian hryvnia against the euro owing to political tensions in the country damaged CC HBC's results, and the group warned foreign exchange losses for the full year would be higher than initially expected. The company made approximately 22% of sales last year in Russia, its primary growth-driver in recent years, which has more than offset weakness in markets such as Italy and Greece. The company stated that sales in Russia grew by a high single digit percentage in the first quarter. Hellenic Bottling Company S.A. was incorporated under the laws of Greece in 1969, with its headquarters in Athens. The Coca-Cola Company granted to the company its bottling rights in the country in 1969. Coca-Cola HBC is listed 1st in Europe and 2nd in the world’s top ranking beverage companies in the Dow Jones Sustainability Index and is also included in the FTSE4Good Indexes. © 2014 - European Supermarket Magazine by Peter Donnelly
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