Coca-Cola HBC Expects Rise in Annual Revenue Growth

By Olga Cotaga

LONDON--Soft drinks bottler Coca-Cola HBC AG (CCH.LN) Monday said it expects average annual revenue to grow 4%-5% in the medium term on a currency-neutral basis.

The company said, as part of its medium-term strategy, it sees comparable earnings before interest and tax rising to 11%, from 7.5% in 2015. It expects to cut operating expenses as a percentage of net sales revenue to 26% or 27%, down from 29.2% in 2015.

"We have a balanced spread of territories with structurally attractive characteristics and specific plans for growth," Chief Executive Dimitris Lois said. "We have reflected these factors in our new targets... which illustrate our confidence in the medium-term potential of the business."

At 1115 GMT, shares were up 17 pence, or 1.3%, at 1349 pence valuing the company at 4.87 billion pounds ($7.06 billion).

Write to Olga Cotaga at [e-mail], Twitter @OlgaCotaga

(END) Dow Jones Newswires

June 06, 2016 07:47 ET (11:47 GMT)

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