Coca-Cola HBC AG (), which beats drinks made by, saw its higher physical shares reported "a quarter of solid growth".
Shares, up 2.7 percent to 2,321p, were at the top of the company's leadership after the company posted a 4.2% increase in volumes delivered in the third quarter of 2018 compared to the previous year and a revenue growth of 4.5% base.
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Volume growth was driven by emerging and developing market segments, especially in the alcoholic beverage category.
Revenue per case on a straight-line basis was 0.3% per annum, which was a slower growth than in the previous quarters. The group has put this in part to the discontinuation of the distribution of premium spirits in Russia, while in the established markets there has been a more intense promotion from rivals.
"We have a quarter of strong growth driven by good volume progress compared to strong comparisons. As expected, the slowdown in price / movement growth reflected mainly the timing of planned pricing and we expect an acceleration in the last quarter was strong and we look at the whole year confident that 2018 will be another year of a good increase in both earnings and margins, "said Zoran Bogdanovic, executive director of the group.
Coca-Cola HBC Q3 cumulated for net sales + 4.5% YoY (fixed markets -0.5%, up + 14.1%, emerging + 4.8%). Quarterly volumes + 4.2%. Remains confident in achieving FY growth.
– Mike van Dulken (@Accendo_Mike) November 8, 2018