Lo­cal Coke bot­tler posts sur­prise loss

Kathimerini English - - Business & Finance -

Coca-Cola Hel­lenic Bot­tling, the world’s sec­ond-largest bot­tler of Coke drinks, re­ported a sur­prise 1-mil­lion-euro loss yes­ter­day, af­fected by higher com­mod­ity prices.

“In­creas­ing com­mod­ity prices dur­ing our sea­son­ally least sig­nif­i­cant trad­ing pe­riod re­duced our prof­itabil­ity for the quar­ter,” said CEO Doros Con­stanti­nou.

“While in­put costs will re­main a chal­lenge through­out the year, we ex­pect trad­ing con­di­tions to im­prove as we move into our more im­por­tant sum­mer sell­ing pe­riod dur­ing the sec­ond quar­ter,” he said.

Prof­itabil­ity was also af­fected by the tim­ing of Easter – which fell dur­ing the sec­ond quar­ter this year but the first last year – dur­ing which the con­sump­tion of soft drinks tra­di­tion­ally in­creases.

Shares in the com­pany dipped 1.38 per­cent to 17.85 eu­ros yes­ter­day, ver­sus a 1.44 per­cent ad­vance on the broader mar­ket.

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