Coke bot­tler says prof­its fiz­zling out

Kathimerini English - - Front Page -

Coca-Cola Hel­lenicBot­tling Com­pany posted a 12 per­cent de­cline in prof­its last year, com­pared to the year be­fore, as its net earn­ings came to 285 mil­lion eu­ros.

The drop was the out­come of a ma­jor slide in sales in devel­oped mar­kets, the high cost of raw ma­te­ri­als and the un­fa­vor­able changes in ex­change rates, the com­pany stated while an­nounc­ing of­fi­cial fig­ures for 2012 yes­ter­day. Turnover in Greece alone con­tracted by 14 per­cent last year. CCHBC ex­pects the ad­verse con­di­tions to per­sist into 2013, es­pe­cially in devel­oped mar­kets, but with a smaller in­crease in raw ma­te­rial costs and a smaller im­pact from ex­change rate fluc­tu­a­tions.

The com­pany ex­pects the pub­lic of­fer ac­cep­tance pe­riod re­gard­ing the ac­qui­si­tion of its shares by Coca-Cola HBC AG in Switzer­land to start in mid-March.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.