Coca-Cola HBC AG said on Thursday it took a one-time hit of 190 million euros ($195.4 million) in the first half from costs related to its Russian business after it stopped selling Coke and other Coca-Cola Co. products in the country.
The soft drinks bottler also reinstated its forecast for the year, expecting annual comparable operating profit between 740 million and 820 million euros, above market expectations.
Its shares rose 6 percent to 2,100 pence.
HBC is one of Coca-Cola’s many bottlers worldwide and holds local Coca-Cola franchises to bottle and sell drinks produced by the U.S. beverage giant. Coca-Cola holds a more than 20 percent stake in HBC….