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*Pan-European bottler Coca-Cola Hellenic made a strong start to the year, despite increased commodity costs and widespread economic uncertainty. Total volume sales by the Greek-based company reached 429 million cases in the three months to 28 March, 7% up on the first quarter of 2007, while revenue rose 9% to €1.37 billion. * Coca-Cola Hellenic’s operating profit meanwhile grew 10% to €67 million, with net earnings up 11% to €28 million or €0.08 per share.

Carbonated beverage volumes increased 3% during the quarter, helped by the introduction of Coca-Cola Zero in a further 11 countries. The so-called “Bloke Coke” is now distributed in 19 of the company’s 28 markets, which range from the Irish Republic to the eastern-most parts of Russia, and from Estonia to Nigeria. Still beverage and water volumes grew in double digits.

“I am particularly encouraged by the continued business momentum in key markets, and our ability to manage our diverse country and brand portfolio to deliver balanced growth,” commented Doros Constantinou, Managing Director of Coca-Cola Hellenic.

Single-serve growth Constantinou continued: “Realisation of planned price increases, and growth in our profitable single-serve packages, helped offset persisting raw material cost pressures and higher investments in sales and marketing costs to support our new product launches.

“While the first quarter is typically a small one for our business, and the macroeconomic environment remains uncertain, the solid start to the year and confidence in our plans provides us comfort in achieving our full year guidance.”

In April, Coca-Cola Hellenic began rolling out new ready to drink (RTD) coffees in ten markets, through a joint venture with The Coca-Cola Company and illycaffé of Italy. Coca-Cola Hellenic expects to report volume growth of about 7% for 2008, with operating profit up 11-13% and EPS up 12-15% to €1.46-€1.49.