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Greek Coke bottler says H1 profit drops, in line with fcast
August 21, 2012 / 5:47 AM / 5 years ago

Greek Coke bottler says H1 profit drops, in line with fcast

ATHENS, Aug 21 (Reuters) - Coca-Cola Hellenic (CCH) , the world’s second-largest bottler of Coca-Cola Co. soft drinks, posted on Tuesday a 25 percent drop in first-half comparable profit, in line with expectations, hurt by austerity in its debt-laden markets and higher commodity costs.

The Athens-based company with operations in 27 countries including Russia and in Nigeria, said comparable net income came in at 109 million euros ($134.5 million), compared with analysts’ average 110.1 million euro forecast in a Reuters poll.

The bottler said the volume of unit cases sold dropped by 2 percent year-on-year to 1.01 billion. Sales rose 1 percent to 3.43 billion euros, compared with analysts’ forecast of 3.42 billion.

The company reiterated its guidance for free cash flow generation and investments of 1.45 billion euros in the 2012-2014 period. ($1 = 0.8103 euros) (Reporting by Harry Papachristou)

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