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 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
iJobs Money & Business
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...