Coca-Cola bottling firm raises outlook on revenue spike as Russia volumes tank August 9, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported a 19.3 per cent rise in revenues in its half year results as the group raised its outlook for the year. Operating profit for the bottler rose 15.9 per cent to €170m (£146m) as the group said it benefited from price increases in [...]
FTSE 100 close: London’s premier index ends week lower after US jobs report July 7, 2023 London’s FTSE 100 closed the week lower as global markets grew increasingly nervous about the extent of interest rate rises still to come. The FTSE 100 closed 0.37 per cent lower at 7,253.43 while the domestically focused FTSE 250 performed more strongly, rising 0.54 per cent to 18,012.46. Investors were digesting the latest jobs data [...]
Coca-Cola HBC fizzes up profit forecast as firm puts Russia exit hit behind it July 7, 2023 Coca-Cola HBC AG, the bottling company for the soft drink giant, upped its profit forecasts for 2023 on the back of a “very strong” June performance this morning, prompting shares to jump nearly 5 per cent. The Switzerland-based firm said that it now expects pre-tax earnings growth of between 9-12 per cent for 2023, up [...]
Coco-Cola HBC share price knocked after drinks giant snaps up vodka group for £172m June 19, 2023 Coca-Cola HBC, the bottler of Coca-Cola products, has seen its share price knocked after it revealed plans to snap up a Finland-based Vodka group for $220m (£172m). The soft-drink company’s latest move comes as it looks to expand its presence within the alcoholic drinks market, while already bottling popular Italian apéritif Aperol. Today it revealed [...]
Coca-Cola HBC’s revenue fizzes almost 25 per cent – but Russia exit still hurts a year on May 3, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported strong revenue growth at 22.2 per cent, but it continues to take a hit from withdrawal of its business in Russia last year. Net sales revenue were up 24.4 per cent, but the firm stated that foreign exchange movements, particularly currency devaluation in [...]
The Notebook: Victoria Scholar on inflation, Ocado’s woes, and why Ted Lasso is a blessed relief March 28, 2023 The Bank of England governor Andrew Bailey has warned firms against rising prices to offset inflation. He told the BBC, “please understand if we get inflation embedded, interest rates will have to go up further and higher inflation really benefits nobody.” The latest UK inflation rate for February surprised economists by picking up again to [...]
Brexit deal: Sunak says Northern Ireland in ‘unbelievably special position’ with access to both UK AND EU markets February 28, 2023 Rishi Sunak insisted that his new Brexit deal for Northern Ireland addressed the concerns of unionists despite the “small and limited” role for European Union law and its court – while giving Belfast an “unbelievably special position”. The Prime Minister, who was visiting Northern Ireland to sell the deal secured with the European Union, said [...]
Coca-Cola bottling firm posts ‘record’ revenue despite exit from Russia and energy crisis eating into profits February 14, 2023 Coca-Cola’s bottling business today posted “record” results after bolstering its revenues through price increases, after its exit from Russia ate into profits. Coca-Cola Hellenic Bottling Company (HBC), which owns the bottling rights for Coca-Cola, saw its reported revenues surge 28.3 per cent to €9.2bn (£8.1bn). The uptick in revenues came as Coca-Cola HBC’s profits were [...]
Coca-Cola bottler details £160.2m hit from Russia sales suspension August 11, 2022 Coca-Cola HBC has revealed it took a hit worth £160.27m after suspending the sale of its beverages in Russia following the invasion of Ukraine. In interim results, the soft drink bottler said it anticipated charges of around £69.17m in the second half of the year after depleting its stocks and suspending production and sales of [...]
Coca-Cola HBC acquires Greek bartenders’ mixer firm Three Cents August 9, 2022 Coca-Cola HBC has snapped up premium mixer firm Three Cents for €45m, the global beverage titan announced on Tuesday. The transaction is expected to be completed in the second half of 2022 and is subject to customary closing conditions and regulatory approvals. Three Cents is publicly listed in Greece and was founded in 2014 by [...]