Coca-Cola HBC said Wednesday that full-year net profit rose 24 percent, as improved economic conditions helped to increase sales and operating margins.
The company, which sells Coca-Cola drinks in 28 countries mostly in Europe, said sales grew 4.9 percent to 6.5 billion euros in 2017.
Comparable underlying earnings (EBIT) rose 20 percent to 521 million euros in the year to 31 December 2017, as margins improved by 120 basis points to 9.5 percent.
The company said economic conditions improved last year and it anticipates this environment to continue in 2018, with further economic growth and healthy inflation.
Zoran Bogdanovic, who took over as chief executive in December following the death of CEO Dimitris Lois, called 2017 an ‘exceptional’ year.
“We are excited about the year ahead, which has a particularly strong pipeline of product innovation and commercial activity,” Bogdanovic said in a statement. “We are confident that 2018 will be another successful year.”