Coca-Cola European Partners (CCEP) has reported a 5.5% growth in revenue per unit case, driven by a favourable underlying price and package mix.
It witnessed a comparable volume growth of 4.5% during the period, partly offset by a late Easter and the impact of last year’s soft-drink tax changes.
The beverage giant also announced a first-half interim dividend of €0.62, up 19% year on year, in line with its annual dividend payout ratio of 50%.
'A Good Start'
CCEP chief executive Damian Gammell said, "We have delivered a good start to the year, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in-market execution."
CCEP has launched light cola flavours, Honest lemonade, Monster espresso and Honest tea in a glass in select markets.
"We have a market-leading position with the world’s best non-alcoholic ready-to-drink brands. We believe we have an attractive and exciting investment story, as we continue to expand our total beverage portfolio while strengthening core capabilities that will drive sustainable success," Gammell explained.
Outlook
CCEP has reaffirmed its full-year guidance for 2019 and is confident about its annual growth objectives over the midterm.
"We are focused on building on this momentum with the key summer selling season ahead of us, albeit following a strong 2018, with some exciting innovations in the pipeline, including the launch of Coke Energy and Aquarius enhanced water," Gammell added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
