LONDON (Reuters) – Soft drink bottler Coca-Cola HBC <CCH.L> reported slightly higher-than-expected quarterly revenue growth on Thursday, driven by higher volumes.
The bottler of Coca-Cola Co <KO.N> drinks said third-quarter revenue rose 2.6 percent to 1.87 billion euros ($2.13 billion). Analysts on average were expecting 1.86 billion euros, according to a consensus forecast supplied by the company.
Excluding the impact of currency fluctuations, revenue rose 4.5 percent, with the bulk of the growth coming from volume gains. Higher prices contributed only 0.3 percent to the increase.
The company blamed the timing of planned promotions for a slowdown in pricing, and said it should accelerate in the current fourth quarter.
“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,” Chief Executive Zoran Bogdanovic said in a statement.
($1 = 0.8759 euros)