CCEP Revenue Growth Slows Amid Challenging Consumer Environment

Coca-Cola Europacific Partners (CCEP) reported strong half-year earnings despite a challenging consumer backdrop. The soft drink bottler saw pretax profit rise 6.3% to EUR1.34 billion from EUR1.26 billion in the same period last year. Revenue grew 4.4% to EUR10.72 billion, with currency-neutral revenue growth at 6.1%. Chief Executive Officer Damian Gammell attributed this performance to the strength of their broad beverage portfolio and consumer demand for value.

CCEP's revenue growth slowed in the second quarter, reaching 2.5% on a reported basis and 3.3% by the currency-neutral measure. However, the company reaffirmed its annual view, expecting revenue growth between 3% and 4% on a comparable and currency-neutral basis. The operating profit is forecast to grow around 7%. CCEP's first-half dividend was upped by 3.8% to EUR0.82 per share.