Coca-Cola HBC raises a glass as annual results beat forecasts

THE refreshed shares of Coca-Cola HBC today topped the FTSE 100 index after annual results by the European bottling group beat City forecasts.

The group, which has an exclusive arrangement with the US company as well as partnerships with Monster Energy and Brown-Forman, hiked its dividend by 19% after 6.8% volume growth in the fourth quarter.

Chief executive Zoran Bogdanovic highlighted a third year of double-digit growth and record profits while he also pledged further progress against medium-term targets. Shares rebounded after their recent weakness to stand 5% or 110p higher at 2316p, fuelled by the forecast of revenues growth of 6%-7% in the current year.