Bottler Coca-Cola HBC lifts full-year profit expectation

Bottler Coca-Cola (NYSE:KO) HBC AG raised its 2023 profit expectation on Friday, aided by robust sales and price increases in the first half of the year.

The company said it now expects organic operating profit growth of 9%-12% for the year end to December, up from its previous forecast of the top end of a -3% to +3% range.

The London-listed company said the forecast upgrade comes on the back of a stronger-than-expected finish to the first six months of the year, capped by a “very good overall” performance in June.

The company also said its mid-term guidance from 2024 onwards remained unchanged.