April 30 (Reuters) - Bottler Coca-Cola HBC beat
market forecast for first-quarter revenue on Tuesday, and
reiterated that its operating profit will expand further this
year, supported by strong demand for its coffee, energy and
sparkling drinks.
The company has continued to witness strong sales even as
prices were hiked over the past year to keep up with high costs,
while regions such as Egypt and Nigeria were impacted by
devaluation of the naira and Egyptian pound.
The Switzerland-based company, in which U.S. beverage giant
Coca-Cola owns more than 23%, reported a 12.6% rise in
organic net sales revenue for the three months ended March 29 to
2.23 billion euros ($2.39 billion).
Analysts in a company-compiled consensus had expected an
organic revenue growth of 9.5% in the reported quarter.
"Although we are mindful of the broader macroeconomic
backdrop, we are confident in delivering our financial guidance
in the year ahead and on making further progress against our
medium-term growth targets," CEO Zoran Bogdanovic said in a
statement.
Coca-Cola HBC ( CCHBF ) maintained its outlook for annual organic
operating profit to grow in the range of 3% to 9%, as it ramps
up its investments and brand launches.
Organic revenue per case for the quarter was up 10.6%.
($1 = 0.9342 euros)