Coca-Cola HBC Sees Strong Volume Growth In Q3
Coca-Cola Hellenic Bottling Company has recorded volume growth of 3.4% in the third quarter of the year, with improvements seen across all of its regional markets.
Net sales revenue increased by 5% to €1.822 billion, bringing the company's total revenue for the first nine months of 2017 to €5.035 billion.
The group says that its established markets segment experienced volume growth of 2.2%, driven by business in Southern Europe, and its developing markets segment saw 5.1% growth, with a particularly strong performance in Hungary and the Czech Republic.
Meanwhile, the emerging markets segment increased by 3.5%, with growth in Romania, Serbia and Ukraine.
Overall, sales volumes of sparkling beverages were up by 2.7%, and water by 7.4%, however, the ready-to-drink tea segment saw declines of 5.9%.
"We are very pleased with the strong revenue delivery in the quarter, well balanced between broad-based volume growth and substantial price/mix improvement," said Michalis Imellos, acting chief executive officer and group chief financial officer at Coca-Cola HBC.
"We go into the final quarter encouraged by our progress and confident in delivering on our expectations for the full year."
Last month, Coca-Cola HBC announced the death of its CEO Dimitris Lois. The company says that it has a succession plan for the CEO position, and there is now a thorough process underway.
Coca-Cola HBC is a leading bottler of the Coca-Cola Company, with operations in 28 countries, and an annual sales volume of more than 2 billion unit cases.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.