SHARES in Coca-Cola HBC rose yesterday after the Coca-Cola bottling company reported an increase in revenue for the third quarter despite poor weather dampening volume growth.
HBC's net sales rose five per cent during the three months to the end of September compared to the same period last year.
The company said this rise was due to price increases and changes in packaging formats.
Established markets volumes increased 1.2 per cent during the quarter, while developing markets volumes declined four per cent.
Emerging markets volumes increased three per cent.
The bottler's shares closed 6.1 per cent up yesterday, pushing the company to the top of the FTSE 100's risers for the day.
"In a quarter in which unseasonably cold and wet weather significantly depressed industry volume growth in a number of our countries, we are pleased to have gained or maintained share in the majority of our markets and to have made progress with our commercial strategy," said Coca-Cola HBC chief executive Zoran Bogdanovic.
(c) 2019 City A.M., source Newspaper