CCEP Coca Cola Europacific Partners PLC

By Joe Hoppe

Coca-Cola Europacific Partners PLC on Wednesday lifted its full-year guidance and declared a record dividend after its third-quarter revenue rose.

The beverage company said quarterly comparable revenue increased 20% to 4.75 billion euros ($4.69 billion) compared with the same period a year earlier. The company said key to its performance was continued recovery of the away-from-home channel, a return to travel and tourism, good summer weather in Europe and a resilient home channel.

The board declared a dividend for the full year of EUR1.68 a share, a 20% increase on 2021.

The company said it expects 2022 revenue to grow in the 15% to 16% range on a comparable basis, up from a previous range of 11% to 13%. Operating profit's comparable growth is expected in the 11% to 12% range from a previous range of 9% to 11%.

"We are confident in the resilience of our robust categories and the strength of the relationships we have with our customers, who continue to share in our success, despite a more uncertain outlook," Chief Executive Damian Gammell said.

Coca-Cola Europacific Partners also raised its mid-term objectives. The company targets revenue growth of around 4%, up from previously low single digit, and comparable operating growth of 7%, previously mid-single digit.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

November 02, 2022 04:27 ET (08:27 GMT)

Coca Cola Europacific Pa... (NASDAQ:CCEP)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Coca Cola Europacific Pa... (NASDAQ:CCEP)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024