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Coca-Cola HBC AG on Friday said that, after a stronger-than-expected finish to the first half of the year, it is upgrading its earnings expectations for the full year. The company now expects organic earnings before interest and tax growth of between 9% to 12% for 2023. Previously, Coca-Cola HBC had expected Ebit growth of up to 3% or a decline of up to 3%. The mid-term guidance from 2024 onwards is unchanged, meanwhile. Coca-Cola HBC expects annual organic revenue growth of between 6% to 7% on average, and annual organic Ebit margin expansion of between 20 to 40 basis points on average. Coca-Cola HBC is a Steinhausen, Switzerland-based soft-drink bottling partner of drinks maker Coca-Cola Co. It will release its half-year results on August 9. The firm said that in the first six months of 2023, it expects to deliver strong organic growth, reflecting good improvements to price/mix and a ‘very good’ overall performance in June, one of the firm’s most significant months. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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