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Coca-Cola HBC H1 profit climbs 18.9% YOY

Coca-Cola HBC AG said its normalized net income for the first half came to 45 euro cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS increased 16.7% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €166.8 million, an increase of 18.9% from €140.3 million in the first half ended July 1, 2016.

Total revenue increased 5.6% year over year to €3.21 billion from €3.04 billion, and total operating expenses increased 5.2% year over year to €2.93 billion from €2.79 billion.

Reported net income grew 36.9% on an annual basis to €191.6 million, or 52 cents per share, from €140.0 million, or 39 cents per share.