Economy Drinks bottler Coca-Cola HBC sales revenue down on currency headwinds

Drinks bottler Coca-Cola HBC sales revenue down on currency headwinds

 Coca-Cola HBC.
Coca-Cola HBC.

Soft drinks bottler Coca-Cola HBC posted on Thursday a 2.7 percent drop in net sales revenues in the third quarter year-on-year, hurt by adverse currency movements in Russia and other markets.

The European company, which bottles and sells Coca-Cola drinks in 28 countries, said net sales revenue came in at 1.77 billion euros (1.24 billion pounds) in the third quarter, down from 1.82 billion euro in the same period a year ago.

Several initiatives the bottler took in the first half and good weather boosted sales volume, which grew 5.4 percent in the quarter year-on-year to 577 million unit cases.

Coca-Cola HBC was confident volume would continue growing for the rest of the year.

 

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