Coca-Cola European Partners (CCEP) has said that it is anticipating 1% revenue growth in full year 2016, as well as modest double digit operating profit growth.
In what the company describes as 'a 2017 business update and 2016 full-year outlook', CCEP said that the earnings will include an 'expected negative currency impact of approximately 4.5%', however 'pro forma comparable diluted earnings per share is expected to be at the high end of or just above the previously stated range of €1.86 to €1.90'.
“Throughout the year, we have maintained a diligent focus on delivering our operating objectives for 2016, even as we worked to successfully complete our merger earlier this year,” said John F. Brock, chief executive officer, CCEP.
“The launch of CCEP creates a strong company that is better positioned to meet the challenges of today’s marketplace, all with a goal of continuing to drive shareowner value.”
At the end of this month, Brock will step down from his role to be replaced by the company's current chief operating officer, Damian Gammell.
“As we complete 2016 and begin to execute our plans for 2017, we will continue to focus on brand and package innovation, strengthening execution and customer service, and further improving operating effectiveness,” Gammell commented.
“In addition, we will work to build on continued revenue growth and improve core operating profit growth while simultaneously achieving our synergy objectives."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
