AS THE market continues to ponder the implications of the credit crisis and the looming global economic slowdown, investor confidence is understandably fragile. But crises provide opportunities, and for the discerning investor there are still
a number of attractively valued companies. One stock we currently favour is Coca-Cola Hellenic Bottling Company.
This Greek group is the world's second largest bottler of Coke products and has operations in 28 countries.
Coca-Cola HBC delivered an impressive set of numbers in 2007, boosted by strong growth in its developing markets and improved sales in its more established markets. While remaining vigilant on the outlook for 2008, the company expects to achieve its long-term guidance despite increased cost pressures and an uncertain macroeconomic environment.
Coca-Cola HBC explained that it would hedge against any macroeconomic slowdown through the further roll-out of the successful Coke Zero product in more markets, the stability of its developed markets, and plans for development of its non-carbonated drinks.
Its said the silver lining in its rising commodity costs lay in the European Union's plans to dismantle the current sugar pricing regime, which should save it about 100 (£79) per ton of sugar in 2009-10.
The company has a healthy exposure to the emerging markets, and has the management, product range and competitive superiority to achieve long-term growth.
• Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact nor should reliance be placed on these views when making investment decisions. Past performance is not a guide to the future.
The full article contains 283 words and appears in The Scotsman newspaper.
