Coca-Cola Hellenic Bottling Co, the world's second-largest bottler of Coke beverages, said third-quarter profit rose 27 percent after sales gained on eastern European demand and a calorie-free version of Coke.
Net income climbed to 213 million euros (311 million U.S. dollars), or 88 cents a share, from 167.1 million euros, or 69 cents, a year earlier, the Athens-based company said yesterday in an e-mailed statement. That beat the 203.7 million-euro median estimate of 10 analysts surveyed by Bloomberg News. Sales gained 15 percent to 1.9 billion euros, above the survey's 1.88 billion-euro estimate.
Coca-Cola HBC gets more than half its revenue from emerging markets such as Russia and Romania, where expanding economies are driving purchases of bottled water, juices and soft drinks. Coke Zero, a calorie-free soda formulated to taste like the regular version of the beverage, has boosted sales in western Europe by appealing to health-conscious consumers.
The bottler raised its forecast for annual per-share profit for a second time this year.
Source: Shanghai Daily
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