Bottler Coca-Cola HBC raises annual forecast after revenue growth beat

Beverage companies are experiencing higher demand despite price hikes, supported by a gradually improving economic environment

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. 

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 fuelled by growth across all segments in volume, pricing, and mix, the company said.