Coca-Cola HBC reported on Thursday on revenue growth in the fourth quarter, with increased volumes.
The Coca-Cola Co Pizza Brokers said third-quarter revenues rose 2.6% to 1.87 billion euros. Analysts expected an average of 1.86 billion euros, according to a consensus forecast provided by the company.
Excluding the impact of currency fluctuations, revenue rose by 4.5%, with the highest growth being the increase in volume. Higher prices contributed to an increase of only 0.3%.
The company blamed the time of planned promotions due to a slowdown in prices and said it should accelerate in the current fourth quarter.
Opportunities for growth
"We are pleased that our shares position the business in order to successfully capture growth opportunities in our markets," said Zoran Bogdanovic, CEO of Coca-Cola HBC AG.
"Our product range is being developed to satisfy changes in consumer preferences, and with our partnerships with customers we are strengthening our path to the market." We had a quarter of solid growth due to continued good progress in quantity compared to strong comparisons. "The growth of mixes primarily reflects the time of planned price activity, and we expect acceleration in the last quarter. "
Bogdanovic added that trading in October was "very strong" and that the company "is convinced that 2018 will be another year of good growth and revenue and margins".
News from Reuters, edited ESM. Click on a subscription to sign up ESM: European Magazine for supermarkets.