Categories: Business NewsManufacturingSustainability

Profits at Coca-Cola EP rise to €988m

Published by

Stephen Emerson

soft drinks in bottles background

Coca-Cola bottling have reported an almost 100% rise in profits in their Western Europe division. This has resulted in a rise in dividend payment awards of 64.4%

The sharp jump in post-tax net profit has largely been attributed to the relaxation of Covid regulations.

As customers return to pubs, clubs and other leisure activities, Coca-Cola Europacific Partners' reported gains in excess of €488m, from just under €500million in 2020 to €988million in FY21.

The largest revenue increase was in Great Britain, where sales of Coca-Cola, Fanta and Monster drinks exceeded their pre-pandemic volumes. Sales of Fuze Tea and juice drink Capri-Sun all surpassed their 2019 volumes.

Higher commodity and concentrate costs more than offset the significant rise in the cost of sales per unit.

Read more - Coca-Cola HQ sold to Saudi investment firm

Chief executive Damian Gammell described it as: “An extraordinary year for our stronger, more diverse business, built on great people, great service and great beverages and done sustainably.'

These results meant shareholders benefitted from a 64.5 per cent hike in their dividend per share payment and will receive two interim dividends during this fiscal year.

The good news continued as Coca-Cola EP forecasts a rise in revenue of 6 to 8 per cent on a pro forma basis.

Mr. Gammell added: 'We are well placed as we look to FY22 and beyond. Our aim is to be smart and sustainable - through our people-centric, data-driven and digitally-enabled approach.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.