The bottling company has a broad geographic footprint with operations in 28 countries.
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Record low interest rates set by the Bank of England have helped the United Kingdom stock market recover from a slump in the immediate aftermath of June’s Brexit vote, although the value of United Kingdom shares in US dollar terms has been impacted by a fall in sterling.
Volumes in established markets was 2.8% lower than past year due to unseasonably cool weather.
Nigeria, Romania and Serbia were key drivers of the 0.5% volume growth in the Emerging markets segment, which continued to be negatively impacted by Russian Federation.
Volume was flat, rising 0.1 per cent to one billion unit cases, declining 2.8 per cent in established markets and rising 3.5 per cent in developing markets.
Coca-Cola HBC said it is accelerating some restructuring plans, mainly in key emerging markets such as Russian Federation and Nigeria.
LONDON, Aug 11 Soft drink bottler Coca-Cola HBC forecast modest sales volume growth for the full year after a roughly flat first half, citing slowing declines in Russian Federation and continued growth in Nigeria, helping to lift its shares more than 5 percent. It rose 3 percent excluding the impact of one less selling day, which will be given back in the second half of the year.
Despite tough comparisons with a strong year-earlier period, the company said volumes “held up well” in July, making it confident of “volume growth for the year as a whole”.
Tui said underlying earnings grew 1% in the quarter, and it still expected underlying profits for the full year to grow by at least 10%. In emerging markets, Nigeria, Romania and Serbia were key drivers of the 0.5% volume growth, the company said.
The volume decline in established markets is expected to moderate considerably in the second half, despite the very strong third quarter in 2015.
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The shares were up 7.3 percent at 1,686 pence at 11:25 a.m.in London, valuing the company at 6.1 billion pounds ($7.9 billion).
