Coca-Cola Enterprises (CCE) has reported a swing to full-year profits as volume growth in Europe offset a decline in North America.
The US bottler reported a net income of US$731m for the 12 months to 31 December. This compared to a loss of $4.39bn in the previous year, it said today (10 February).
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Consolidated comparable operating income grew 9%, while North American comparable operating income grew 13%, and in Europe 7%.
Full-year sales were down 0.5%, however, as North American sales declined 0.5% and European sales declined 1.5%.
For the full-year, comparable North American volume declined 5%.
A balance of solid volume and pricing growth, however, enabled Europe to achieve a third consecutive year of profits growth. For the full-year, comparable volume grew 5.5%, with continental Europe growth of 5% and growth in the UK of 6%.
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By GlobalData“We continue to see the impact of weak macroeconomic conditions on our overall results,” said John Brock, chairman and CEO.
