ECONOMY

Russian market makes CCHBC profits bubble

Coca-Cola HBC, the world’s second-largest Coke bottler, posted a small increase in profits and sales in the year’s first nine months, the Athens-listed company announced on Wednesday. This is the result mostly of a rebound in sales to Russia due to the extended heat wave over the summer, which boosted the consumption of refreshments, bottled water and juice. On the other hand, CCHBC registered losses in developed markets, while the financial crisis in Greece resulted in a drop in its sales volume domestically over the third quarter of the year by 14 percent from the same period in 2009. Net profits in the January-September period came to 417 million euros, up 1 percent from the same period last year. Net revenues from sales came to 5.299 billion euros in the first nine months, a 3 percent rise over last year.