US: Coca-Cola Enterprises encouraged by Q2, H1 numbers
- Half-year net profits leap by 28.8% to US$313m
- Sales in six months to end of June rise by 4.9% to $4.20bn
- H1 operating profits also jump, by 25.1% to $479m
- Q2 net profits increase by 8.8% to $198m
- Sales in three months to end of June up by 8.2% to $2.33bn
- Quarterly operating profits climb by 8.5% to $295m
Volumes increased in Q2 for Coca-Cola Enterprises
Coca-Cola Enterprises has reported a healthy set of numbers for its second quarter, with Q1's profits leap driving a strong showing in the half-year.
The US-headquartered company, which operates in Western Europe, said earlier today (24 June) that net and operating profits in the three months to the end of June increased by 8.8% and 8.5%, respectively. Sales in the three-month period were up similarly, by 8.2%.
The half-year numbers were skewed by the company's Q1 performance, when profits soared on a weak year-earlier comparative.
Volumes in Q2 were up by 3.5% with "sparkling drinks" rising by the same amount. The energy drinks portfolio delivered volume growth of 3%, with still beverages increasing by 2%, CCE said.
In regional terms, volumes from the UK inched up 2%, while continental Europe delivered 4% growth.
John Brock, CCE's chairman & CEO, said: “While we are encouraged by a return to volume growth, we continue to face ongoing macroeconomic weakness, competitive and marketplace pressures, and a dynamic customer landscape, particularly in Great Britain.”
On its full-year outlook, the company said it expects EPS growth of around 10% on a low single-digit rise in sales. Operating profits were reaffirmed to increase in a mid-single-digit range.
To read CCE's official statement, click here.
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