Coke bottling partner’s profits and dividends rise as Irish staff numbers fall via IrishTimesBiz
The Irish arm of Coca-Cola Hellenic Bottling Company, which bottles and distributes Coke and other products, raised the dividend paid to its shareholders last year by 42 per cent while the pay of its directors rose by 22 per cent, as the company axed 30 roles in its operation in the Republic.
Accounts recently filed for Coca-Cola HBC Ireland, the local arm of the London-listed Coca-Cola HBC, show its sales last year surged by more than 16 per cent to €283.9 million, while profits before tax were up by almost 70 per cent to more than €29.5 million. The drinks company’s financial results were also well in advance of its pre-pandemic performance. In 2019, the last full year before the arrival of coronavirus disrupted the economy, Coca-Cola HBC’s Irish sales were €211.3 million, 25 per cent below its latest revenues.
The accounts show it accelerated the payment of dividends from the Irish operation throughout the pandemic. Last year, it paid €30 million to the group, up from €21 million the prior year. Before the pandemic, it paid no dividend in 2019 and just €5 million in 2018. The accounts for 2021 show it also paid an interim dividend of another €15 million in May of this year.
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