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Coca-Cola Europacific Partners PLC on Thursday reported quarterly revenue growth and upped its interim dividend. Coca-Cola Europacific is a bottling company which distributes Coca-Cola products and other drinks across Europe as well as the Asia-Pacific region. It is headquartered in Uxbridge. Revenue in the three months to March 29 was €4.47 billion, up 7.7% from €4.15 billion the year before, said Coca-Cola EP. In particular, Coca-Cola said this was driven by double-digit growth in the Philippines, which it said reflects ‘strong underlying market demand [and] solid share gains’. It also saw ‘modest volume growth’ in Germany. However, the firm noted that there were modest volume declines in the UK, Iberia and Australia/Pacific regions. The company declared an interim dividend of €0.74, up 10% from ERU0.67 per share a year prior. Looking ahead, Coca-Cola EP reaffirmed its 2024 revenue guidance, expecting comparable revenue growth of around 4%. In 2023, revenue was €18.30 billion. ‘We are well-placed for [2024] and beyond, continuing to invest for the long-term. We are confident that we have the right strategy, done sustainably, to deliver on our mid-term growth objectives which combined with today’s interim dividend declaration, demonstrate the strength of our business, and our ability to deliver continued shareholder value,’ said Chief Executive Officer Damian Gammell. Shares in Coca-Cola EP were up 0.3% at €65.40 each in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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