Coca-Cola Hellenic Bottling reports higher 2010 results

Coca-Cola Hellenic Bottling on Wednesday announced an 8.0 pct increase in its comparable net profits to 450 million euros in 2010, compared with the previous year, while comparable earnings per share totaled 1.24 euros, up 9.0 pct over the same period.

Volume of sales totaled 2.100 million boxes, up 1.0 pct from 2009, while net turnover was 6.794 billion euros, up 4.0 pct. Comparable operating earnings totaled 682 million euros last year, up 5.0 pct from 2009, while net cash flow totaled 549 million euros.

Fourth quarter net earnings totaled 33 million euros, while earnings per share were 0.09 euros, both figures sharply up compared with the same period in 2009. The volume of sales totaled 481 million boxes, with turnover rising 7.0 pct to 1.495 billion euros, while operating earnings grew 1.0 pct to 61 million euros.

Commenting on the resuls, Doros Konstantinou, chief executive of the group, said that Coca-Cola Hellenic Bottling recorded a significant performance last year despite adverse economic conditions prevailed in most countries with established activities. He expressed his optimism for this year’s results, based on signs of economic recovery in the main markets.