Coca-Cola Europacific Partners Revenue Grows Despite Lower Volumes

By Najat Kantouar

Coca-Cola Europacific Partners has reported a revenue growth for the third quarter despite a drop in volumes, reflecting strong comparatives and mixed summer weather, and backed its full-year guidance.

The London-listed bottling company said Wednesday that revenue for the quarter ended Sep. 29 rose 9% on a comparable basis to 4.81 billion euros ($5.08 billion) driven by a headline price increase implemented in the first quarter.

Volumes for the period fell 4.5% on a comparable basis to 846 million.

The board declared a second half interim dividend per share of EUR1.17

"In the third quarter, we also delivered top line growth despite mixed summer weather across Europe and the ongoing execution of our long-term transformation strategy in Indonesia. We remain confident in the resilience of our categories, despite ongoing macroeconomic and geopolitical volatility," Chief Executive Damian Gammell said.

The company reiterated that it expects to report comparable revenue growth of 8%-9% and operating profit growth of 12%-13%.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

November 01, 2023 04:57 ET (08:57 GMT)

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