Coca-Cola Bottlers Japan Holdings Inc.
has updated its full-year 2023 earnings forecast. The revision is due to higher sales volume in the cumulative third quarter period, driven by successful commercial activities and increased demand from traffic recovery, economic activity revitalization, and a heat wave. Additionally, cost-saving initiatives have progressed ahead of plan, and the impact of rising commodity and utility prices is estimated to be lower than initially expected. As a result, the company has announced an upward revision to its previously announced full-year forecast.
Original Press Release:
Nov. 9
--
Coca-Cola Bottlers Japan Holdings
issued the following news release:
Coca-Cola Bottlers Japan Holdings Inc.
(the “Company”) announced an update to its full-year 2023 (
January 1 to December 31, 2023
) earnings forecast, which was previously released on Februay 9, 2023, as follows.
1. Revision of full-year forecast
Revision of full-year 2023 forecast (from
January 1, 2023
to
December 31, 2023
)
The Table can be viewed at: https://en.ccbj-holdings.com/pdf/news/1464.pdf
2. Reason for revision
In the cumulative third quarter period (from
January 1, 2023
to
September 30, 2023
), sales volume grew more than expected. This growth was due to successful commercial activities that captured opportunities for increased demand from the traffic recovery, revitalization of economic activity and the heat wave. These factors resulted in higher than initially expected revenue and profits. In addition, cost saving initiatives have progressed ahead of plan. The impact of rising commodity and utility prices are estimated to be suppressed more than initially expected. As a result, the company has announced an upward revision to the full year forecast previously announced on
February 9, 2023
.
Source:
Coca-Cola Bottlers Japan Holdings
[Category: Financial Results]
