CCEP posts higher profit for 2019

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Photo: Tom Pennington/Getty Images

Coca-Cola European Partners (CCEP) reported solid rises in annual profit on Thursday.

Operating profit for the year ending 31 December 2019 rose to €1.55 billion from €1.3 billion in the previous year, the results show. This represented a jump of 19 percent in reported basis and 6 percent in comparable basis.

At €12 billion (£10 billion), comparable revenue saw an increase of 4.5 percent over 2018.

“2019 saw our business deliver another solid full-year demonstrating our continued focus on driving profitable revenue growth through managing price and mix across our portfolio, delivering solid in-market execution and a step up in innovation, collectively reflected in market value share gains across all our geographies,” said Damian Gammell, chief executive officer.

Gammell said the company’s guidance for 2020 – low-single digit revenue growth and mid-single digit operating profit growth – is “firmly in line” with its mid-term growth objectives.