Enter multiple symbols separated by commas

Coca-Cola HBC Second-Quarter Profit Rises 17%

Coca-Cola Hellenic Bottling, the world's second-largest Coke bottler outside the United States, said Thursday that second-quarter net profit rose 17% due to favorable weather conditions.

Profits were also helped by sales at the company's newly acquired Italian water unit, as well as the rollout of the new low-calorie drink Coke Zero.

For the three months to June 30, the company said net profit was 196.3 million euros ($270.8 million), compared with 167.8 million euros in the same period a year earlier. Revenues also rose by 17% to 1.84 billion euros ($2.54 billion) from 1.58 billion euros a year earlier.

The figures were slightly higher than analyst expectations of a 15% rise in net profit and a 13% rise in net sales revenue.

Last year, the company acquired Fonti Del Vulture, a water company in Italy, jointly with the Coca-Cola , as part of a three-year acquisition strategy to move into non-carbonated soft drink sales. It also acquired Fresh & Co, a fruit juice producer in Serbia, and Cypriot beverage maker Lanitis and Yoppi, a vending machine operator in Hungary.

Earlier this year, it said it would acquire Eurmatik S.r.l, a local vending operator in Italy.

The second quarter is traditionally the second most important for the company and, according to analyst estimates, accounts for roughly one-third of CCHBC's full-year operating profit.

CCHBC has operations in 28 countries with a market more than 540 million people.

Managing Director Doros Constantinou said in a statement that the company reported another strong quarter of robust volume growth and operating margin expansion, despite higher raw material costs and additional investment in sales.

Coca-Cola HBC shares closed Wednesday up 1.38 euro ($1.90), or 4.23%, at 34 euro ($46.90). Since the beginning of the year, the company's shares have risen 15.3% while the Athens Stock Exchange General Index rose 8.3%.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Mark Cuban and Donald Trump

    Donald Trump appears to have Mark Cuban's vote, at least in terms of how the billionaire real estate mogul is conducting his political campaign.

  • Ferrari 488 Spider

    Ferrari's new 488 Spider will have a V-8 turbo engine and a retractable hard-top roof that lowers in just 14 seconds.

  • Members of the New Horizons science team react to seeing the spacecraft's last and sharpest image of Pluto before closest approach later in the day at the Johns Hopkins University Applied Physics Laboratory (APL) in Laurel, Maryland July 14, 2015.More than nine years after its launch, a U.S. spacecraft sailed past Pluto on Tuesday, capping a 3 billion mile (4.88 billion km) journey to the solar system's farthest reaches, NASA said.

    The New Horizons Pluto flyby mission set records for NASA's social media and web metrics——but why do we care so much?

U.S. Video