Coca-Cola HBC revenue growth beats expectations

(Sharecast News) - Bottling company Coca-Cola HBC reported better-than-expected first-quarter organic revenue growth on Wednesday, driven by strong demand in emerging markets. The company said organic revenue grew 10.6% in the first three months of the year, beating estimates of 8.3% in a company-compiled poll of analyst forecasts.

Emerging markets, which include African, Central and Eastern European countries reported a 20.3% growth, it added.

The packager reiterated its annual guidance but warned of a "challenging and unpredictable" macroeconomic and geopolitical environment.

The company also reaffirmed its guidance for 6% - 8% annual organic revenue growth, compared to analysts estimate of an 8% increase this year.

"We continued the positive momentum for our business as we report a strong start to the year, in a range of market conditions. Successful execution of our growth strategy has delivered organic revenue growth of 10.6% with increased volumes," said chief executive Zoran Bogdanovic.

Reporting by Frank Prenesti for Sharecast.com