Shares fizz as Coca-Cola bottler reports rising revenue

Shares at Coca-Cola HBC climbed five per cent in morning trading as the fizzy drinks bottler posted rising revenue on the back of higher demand in its international markets.

The Swiss-based firm, which is the world’s second-largest Coca-Cola anchor bottler, led the FTSE 100 this morning after reporting revenues of €1.87bn (£1.63bn)in the third-quarter, rising 2.6 per cent rise compared with the same period last year.

Fresh demand from markets such as Nigeria, Poland and Russia helped spur the slightly higher-than-expected revenue increase.

Chief Executive Zoran Bogdanovic said in a statement: “October trading has been strong, and we look to the full year confident that 2018 will be another year of good growth in both revenue and margins.”

The company uses concentrates and syrups from Coca-Cola to manufacture and distribute bottled drinks, mostly in Europe.

According to Refinitiv Eikon data, Coca-Cola has a stake of around 23 per cent in the bottling company.