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Coca-Cola HBC revenue slips, volumes grow in Q1; on-track to meet annual guidance
StockMarketWire.com
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Coca-Cola HBC reported a fall revenue, but volumes improved in the quarter, and the consumer packaged goods business said it was on track to achieve its annual guidance.
For the first quarter, reported revenue fell 4%, while volumes were up 1.5%.
FX-neutral revenue growth, however, was 2.7%, driven by 'sparkling and energy, the emerging segment and strong execution in the at-home channel,' the company said.
Emerging markets FX-neutral revenue rose 10.4%.
'Our business delivered a good performance in the quarter, maintaining the momentum seen in Q4,' the company said.
Looking ahead, while the speed and shape of recovery from the pandemic remains uncertain, the company said it was on track to 'achieve our 2021 guidance for a strong recovery in FX-neutral revenues, along with a small increase in EBIT margin.'
Story provided by StockMarketWire.com
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