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LONDON (Reuters) – Coca-Cola's European partners are planning another year of revenue and profit growth in 2019 and have announced plans to re-list on a London stock exchange.
The world's largest independent Coca-Cola beverage bottler also announced Thursday a rise in revenue and operating profit in the fourth quarter, helped by higher prices that offset declining volumes.
Another Coca-Cola bottler, Coca-Cola HBC, announced Thursday higher costs and lower savings that will weigh on the results of 2019, dropping its shares down.
Coke European Partners expects weak single-digit sales growth for 2019, excluding any impact of exchange rate fluctuations or additional taxes on non-alcoholic beverages, and comparable operating income growth of 6 to 7 percent. %. According to its forecasts, earnings per share should increase by 10 to 11%.
In the fourth quarter, the company reported a turnover up 5% to 2.8 billion euros. Volume fell 2.5%, while revenue per case increased 6%.
Comparable earnings per share was 54 euro cents.
The company has announced its intention to continue buying back shares by buying up to € 1 billion worth of securities this year.
It also plans to apply for admission to the London Stock Exchange Main Market as a standard inventory and delist Euronext London effective March 28, 2019.
Report by Martinne Geller; Edited by Edmund Blair
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