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(Sharecast News) - Shares in Coca-Cola HBC fell on Wednesday morning despite the soft drinks bottler raising its full-year revenue guidance after reporting strong third-quarter growth, driven by higher volumes and pricing.
The FTSE 100 company said it now expects organic revenues to grow "slightly above" its previous forecast range of 6-7% in 2026, having earlier guided to growth around the top end of that range. Its forecast for organic operating profit growth was unchanged at 8-10%.
Organic revenues increased 9% in the third quarter compared with the same period last year, while reported revenues rose 9.6%, helped by a small foreign exchange benefit.
Organic volumes grew 5.4%, led by a 24.7% jump in energy drinks and 4.5% growth in sparkling beverages, while organic revenue per case increased 3.4%, reflecting selective pricing measures and an improved product mix.
The company highlighted momentum in Coca-Cola Zero Sugar, Powerade and Monster Energy, supported by new product launches, marketing campaigns and promotions linked to the FIFA World Cup.
Growth was registered across the company's geographical divisions, with organic revenues rising 8% in established markets, 8.7% in developing markets and 9.8% in emerging markets, the latter supported by strong demand in Nigeria.
Chief executive Zoran Bogdanovic said: "We are pleased to have delivered another strong quarter, with organic revenues increasing 9.0%. This performance was underpinned by our relentless focus on delivering our strategy, resulting in broad-based volume growth across our 24/7 portfolio."
He added: "Despite an ongoing uncertain and dynamic macro environment, we enter the final quarter well positioned to deliver on our full-year targets."
Coca-Cola HBC also said its planned acquisition of Coca-Cola Beverages Africa remained on track for completion by the end of 2026, having received competition clearance in five of the six required jurisdictions, with approval in Tanzania still outstanding.
The company expects net finance costs of 35m to 45m this year, compared with its previous forecast of 40m to 50m.
Shares were down 0.5% at 4,742p by 0845 GMT, having fallen as much as 1.5% earlier on.