The bottle manufacturer for Coca-Cola hopes to increase profits following a slow start to the year.
Coca-Cola HBC, a company listed on the London Stock Exchange, reported a 24.4% increase in first-quarter revenues to £1.91 billion due to robust demand and successful price raises.
The company, which bottles beverages for the U.S. behemoth and whose marketing has featured singer Rita Ora, now anticipates a 3 percent increase in profits this year.
Revenues are anticipated to increase by more than 6%. Yesterday, shares rose 2.1%, or 50p, to 2483p.
Consistent execution of our strategy has resulted in a robust start to 2023. And we anticipate another year of solid performance, said CEO Zoran Bogdanovic.
Our employees and collaborations position us for long-term, sustainable growth through 2023 and beyond.
After Russia invaded Ukraine in 2014, drink manufacturers increased prices by the rising cost of energy and commodities. But companies such as Coca-Cola HBC experienced sustained demand as consumers continued to spend on soft beverages.
