Coca-Cola European Partners Increase Net Profit By 40% in Q3
Coca-Cola European Partners has earned a net profit of €537 million during the first nine months of 2016, an increase of 40% compared to the same period last year.
The company recently announced its projections for the full year and has named Damian Gammell as its new CEO, replacing John Brock, who is retiring.
Between January and September of this year, the company's revenue grew to €6,528 million, 34% more than in the same period in 2015. Its operating profit reached €719 million, 18% more than 2015.
"Our return to growth reflects the impact of brand and package innovations, strong in-market execution, improving operating effectiveness, and the benefits of favourable weather," said Gammell, the newly appointed CEO and current chief operating officer.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.