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Coca-Cola Hellenic says Q1 net profit up 7 pct

Coca-Cola Hellenic says Q1 net profit up 7 pct

Greece's Coca-Cola Hellenic Bottling Company SA said Thursday its net profit rose 7 percent in the second quarter from a year earlier as a result of lower commodity prices and strong sales in parts of eastern Europe.
The company, one of the world's largest Coke bottlers, reported net profit of ⁈llion ($279.6 million).
"Whilst negative currency and channel mix trends adversely impacted our revenues, we were delighted to see the benefit of our cost saving initiatives, together with lower commodity costs, contribute to a solid operating profit performance in the quarter," Coca-Cola Hellenic managing director Doros Constantinou said.
The profit advance was achieved despite pressure on sales from the international financial crisis, which resulted in a decline in consumer spending and a contraction of the nonalcoholic ready-to-drink market across most of the company's markets. The company has operations in 28 countries.
Nevertheless, the company said it maintained or grew its volume and value share of the nonalcoholic ready-to-drink market in most of the big countries it operates in, including Russia, Italy, Romania, Poland, Ireland, Bulgaria, Ukraine and Hungary.


Updated : 2021-10-26 21:06 GMT+08:00