StockMarketWire.com - Coca-Cola HBC declared a special dividend after reporting 'solid' growth in the first quarter of the year on the back of volume expansion amid ongoing growth in sparkling and stills.

'Following several years of strong financial performance and good progress towards our 2020 growth targets, the Board is proposing a special dividend of €2.00 per share, amounting to a total of approximately €730 million,' the company said.

The company delivered FX-neutral revenue growth of 4.7%. in the first quarter, compared with a year earlier as volumes expanded by 3.5%, driven by ongoing growth in sparkling, up 2.8%, and an improvement in the growth rate in stills, up 4.3%.

'We have started the year well, delivering solid growth in revenues despite the impact of this year's late Easter. Volume growth accelerated compared to last year and our ongoing revenue growth management initiatives continue to deliver improvements in price/mix,' said Zoran Bogdanovic, Chief Executive Officer of Coca-Cola HBC AA.

'This good start sets us up well to deliver on our plans and make 2019 another year in which we achieve FX-neutral revenue growth above our targeted range with another step up in margins.'


At 8:44am: [LON:CCH] CocaCola HBC share price was +49.5p at 2773.5p



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