BOTTLER Coca-Cola HBC raised its annual forecast and exceeded market estimates for third-quarter organic revenue growth on Thursday, supported by strong demand for energy, coffee and sparkling drinks.
The quarterly revenue jump was fueled by growth across all segments in volume, pricing and mix, the company said.Beverage companies are experiencing higher demand despite price hikes, supported by a gradually improving economic environment that enhances customer sentiment. Coca-Cola drinks are seen on display inside a Sainsbury’s supermarket in Cobham, Britain, on Oct. 2, 2024.
However, US beverage giants Coca-Cola and rival PepsiCo are facing challenges from local sodas in Muslim-majority countries due to consumer boycotts that target the globe-straddling brands as symbols of America, and by extension Israel, at a time of war in Gaza.The bottler has said that the Middle East conflict hurt its business in countries such as Egypt and Bosnia.'Like many other international brands, we have seen an impact from the boycott in Q3 in Egypt.
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