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Nigeria, others lead growth as Coca-Cola hit €3.35 billion net revenue in Q2

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Coca-Cola Hellenic Bottling Company (HBC) has released its earnings for Q2 2019, reporting a 3.8% surge in the net sales revenue which hit 3.35 billion euros ($3.76 billion) for the six months ended June 28 on the back of strong demand in Nigeria, and expansion in Russia, Romania, Ukraine, coupled with growth in other emerging markets.

The company’s net sales revenue rose to 6.4% to 612.9 million euros within the period.

Meanwhile, in the first quarter of the year, Coca-Cola HBC’s net sales revenue rose from 4.4% to 1.41 billion euros ($1.58 billion).

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The result dispels fears that rising competition in Nigeria and economic slowdown in a number of Coca Cola HBC’s more established markets would negatively impact the company’s bottom line.

The Chief Executive of Coca Cola HBC, Zoran Bogdanovic, said, “We remain very open, alert for the right opportunities for Coca Cola HBC… we are looking for a bolt on opportunities primarily in water and juices.

“Proposed special dividend does not preclude our ability to think of also bigger and broader deals if they would come our way.”

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