CocaCola Nigeria recovers from falling sales in Q3

CocaCola Nigeria recovers from falling sales in Q3

Coca-Cola HBC AG, bottler for The CocaCola Company in sub-Saharan Africa and Europe said its volumes in Nigeria saw some significant growth in the third quarter of 2018.

The company said in its latest trading update that emerging markets volumes increased by 4.1%, with good contributions from all markets including Nigeria and Russia.

“As anticipated, we saw a moderation in the very strong pace of growth from Romania, Ukraine and Serbia, which were all cycling high growth rates in the prior-year period.”

Zoran Bogdanovic, Chief Executive Officer of Coca-Cola HBC AG, commented:

“We are pleased with how our actions are positioning the business to successfully capture growth opportunities in our markets. Our product portfolio is evolving to meet changing consumer preferences, and by partnering with customers we are strengthening our route to market.

“We had a quarter of solid growth led by continued good progress in volumes against strong comparatives. As expected, the slowdown in price/mix growth primarily reflected the timing of planned pricing activity, and we expect an acceleration in the final quarter. October trading has been strong, and we look to the full year confident that 2018 will be another year of good growth in both revenue and margins.”