Coca-Cola Beverages sales hit by Kosovo
The company blamed economic turmoil in Russia, the conflict in Kosovo and knock-on effects from health scares affecting Coca-Cola products in Belgium and France for a 5 per cent fall in case volumes in the six months to 2 July.
Neville Isdell, the chairman and chief executive, said: "The figures that we have revealed, obviously, in the short term have not been very good, but it does not affect the fundamentals of the way that we do business."
Coca-Cola Beverages, which markets products across central and southern Europe, said it made a loss per share of 2.3p, compared with 0.7p in a year ago. Turnover was pounds 591.4m, compared with last year's pounds 569.6m.
Mr Isdell said the merger with Hellenic, which also bottles Coca-Cola products, was subject to approval from regulatory bodies and shareholders but should be realised in the first half of next year.
An analyst with a leading European investment bank said: "They've certainly had extraordinarily bad luck in the timing of their listing ... but I don't think that the Coca-Cola story is off the rails."
Coca-Cola Beverages shares, which were priced at 160p when the bottler was spun off and listed by Australia's Coca-Cola Amatil last summer, ended 0.5p stronger yesterday at 126p.
- 1 This 'woman calls police to order pizza' story isn't going where you're expecting
- 2 Axe wielding man shot dead after attacking four New York policemen on busy street
- 3 Watch what happened when food critics were unknowingly served McDonald's
- 4 Jimmy Carr's Oscar Pistorius joke goes a bit too far at the Q Awards
- 5 Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
Renee Zellweger on plastic surgery rumours: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
FCKH8: YouTube reinstates provocative anti-sexism video showing young girls swearing
Axe wielding man shot dead after attacking four New York policemen on busy street
This 'woman calls police to order pizza' story isn't going where you're expecting
McKamey Manor: This 'extreme' haunted house is the stuff of nightmares
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
London bus driver 'kicks gay couple off for kissing'
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...