Coca-Cola HBC up 2.3% on 25% organic sales growth and reinstated guidance

– Coca-Cola bottling partner reinstates guidance
– Organic sales growth excluding Russia/Ukraine up 25%
– Generates €332.9 million of free cash flow
Soft drinks giant Coca-Cola HBC (CCH) served up strong organic growth during a turbulent half ended 1 June and has reinstated its 2023 guidance in a show of confidence that sent shares in the Coca-Cola bottling partner bubbling 2.3% higher to £20.26.
Although first half results revealed a 34% drop in net profit to €152.9 million due to the costs involved in exiting Russia, Coca-Cola HBC stressed its markets outside of Russia and Ukraine continue to show ‘strong momentum’.