Profits at Coca-Cola EP rise to €988m
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.
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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.
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