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 Katie Hopkins gives rare glimpse of sensitive side with heartfelt open letter to her children penned in case she dies from epilepsy
- 2 Rihanna's Met Gala dress took one Chinese woman 2 years to make, was reduced to omelette meme in 2 seconds
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to replace Jeremy Clarkson and co
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Florida couple forced to register as sex offenders for having sex on public beach
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian with near-naked ensemble
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...