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Coca-Cola EP Says Quarterly Revenue Drop Was Anticipated

November 7, 2017: 12:00 AM EST
The CEO of Coca-Cola European Partners (CCEP) said the company had expected the 1.5 percent drop in third quarter revenue year-over-year, noting that operating profit still rose 2.5 percent. Total revenue in the quarter was $3.5 billion (€3 billion) with operating profit reaching $547 million (€470 million). Damian Gammell said the company remains focused on driving profitable revenue growth, expanding its portfolio, and continuing to invest in the business by improving sales force capabilities, evolving routes-to-market, reducing low-value promotions, and leveraging digital caabilities. For the full 2017 financial year, the company sees diluted earnings per share in the range of $2.44 (€2.10) to $2.48 (€2.13).
"Coca-Cola European Partners Sees Revenue Drop 1.5% in Q3", European Supermarket Magazine, November 07, 2017, © European Supermarket Magazine
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