News

Rapidly escalating PET prices and challenging economic conditions have hit the profit margins of the Coca-Cola Hellenic Bottling Company, one of the world's largest bottlers of Coca-Cola products.

Operating profit fell by 5% to €313.3m (£248m) in the six months to 27 June, despite sales revenue increasing to €3.3bn. Pre-tax profit rose by 6% compared to the same period in 2007.

Sales volumes grew by 5% to over a billion cases in the first half of the year. Sparkling drinks increased by 2%, while still beverages and water rose by 9%.

Coca-Cola Hellenic maintained its financial forecast for 2008, outlined in June, of around 6% volume and EBIT growth.

Managing director Doros Constantinou said the firm was focussed on the long term and would continue to invest in platforms for growth. Net capital expenditure in 2008 is expected to reach €600m.

"Clearly, the economic climate, together with input costs, remains uncertain and we will continue to be watchful of developments," added Constantinou.