IN BRIEF: Coca-Cola HBC edges up revenue growth guidance
25th May 2023 08:43
Coca-Cola HBC AG - Steinhausen, Switzerland-based soft-drink bottling partner of Coca-Cola Co - Hosts investor day on Thursday for first time since 2019. Says that since then it has "refocused resources to strengthen core growth capabilities". Tells event in Rome that it has updated its medium-term financial targets. Coca-Cola HBC says it now is targeting average annual organic revenue growth of 6% to 7%, up from previous target of 5% to 6%. It aims for average annual organic earnings before interest and tax margin expansion of 20 to 40 basis points. The company says it remains committed to a progressive dividend with a pay-out ratio of 40% to 50% of earnings per share. Read More