CCEPs John Brock is to step down as CEO at the end of the year

CCEP's John Brock is to step down as CEO at the end of the year

Coca-Cola European Partners (CCEP) has upgraded its full-year outlook as the company nears completion of its first calendar year.

The bottler, which was formed by a merger between Coca-Cola Enterprises (CCE) and two other Europe-based Coca-Cola bottlers in June, said yesterday it expects sales for the 12 months to the end of the year to grow by 1% on a pro-forma and FX-neutral basis. In September, when the company released H1 results, it said it expected its FY sales to come in flat.

Expectations of mid-single-digit operating profits growth remain the same. For its 2017 outlook, CCEP predicted "modest" low single-digit sales growth, with operating profit to be up high single-digits.

"Throughout the year, we have maintained a diligent focus on delivering our operating objectives for 2016, even as we worked to successfully complete our merger earlier this year," said CCEP's chief executive, John Brock. "The launch of CCEP creates a strong company that is better positioned to meet the challenges of today's marketplace."

Brock is set to step down as CEO at the end of the year. He will be replaced by his COO, Damian Gammell.