The soft drinks bottler once counted Russia as one of its biggest markets.

It said it also expects to sustain financial charges of about €82m in the second-half as it depleted all its stocks and would no longer produce or sell Coca-Cola or other brands of the Coca-Cola Company in Russia.

HBC holds Coca-Cola franchises in Ireland and Northern Ireland to bottle and sell drinks produced by the US beverage giant. Coca-Cola holds more than 20% stake in HBC.

The London-listed firm also reported a 34% fall in net profit at about €153m for the six months ending July 1, hit by the charges.

It also reinstated its forecast, expecting comparable operating profit for 2022 to be between €740m and €820m.