UPDATE 1-Coca-Cola HBC falls short on profit in tough European market [Reuters]
COCA COLA HBC UNSP/ADR (CCHGY)
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Source: Reuters
UPDATE 1-Coca-Cola HBC falls short on profit in tough European market - Reuters 2 Min Read (Adds estimates, rival results, outlook, profit, background) Aug 8 (Reuters) - Swiss-based soft drink bottler Coca-Cola HBC AG fell way short of market expectations for operating profit in the first half of 2019, hit by sluggish growth in its established markets and an unseasonable start to the European summer. HBC, which produces Coca-Cola drinks under franchise for 28 mostly European markets and is one of the world’s biggest soft-drinks bottlers, said net sales revenue rose 3.8% to 3.35 billion euros ($3.76 billion) for the six months ended June 28, beating company supplied estimates of 3.34 billion euros. But it reported a 4.9% dip in operating profit to 288.9 million euros, missing company supplied estimates of 319.8 million euros. “We are pleased with this solid first half given the challenging combination of tough comparators and unseasonably cold and wet weather,” Chief Executive Officer
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