Coca-Cola Counts Huge Cost of Russia Exit
The soft drinks bottler lost $195mn in the first half of the year and predicts a further $82mn charge as it depletes its stocks in Russia - citing the conflict in Ukraine.
Russia was one of Coca Cola HBC’s biggest markets before it suspended its business - but the bottler will now re-name its business Russia Multon Partners and produce local brands Dobry, Rich and Moya Semya.
The charges resulted in the London-listed company reporting a 34% fall in net profit to July 1.
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