- Coca-Cola European Partners said earnings growth would be at lower end of guidance following a slower than expected start to the fourth-quarter amid signs of softening market conditions.

The company said that while it still expected to deliver revenue growth and free cash flow at the top-end of guidance, full-year earnings growth would be at the low-end of its previously guided range following signs of a slowdown in markets, particularly in France and Great Britain, and unfavourable weather in October.

Revenue was now expected to grow about 3%, compared with previous guidance of low single-digit range and diluted earnings per share was expected to grow approximately 10%, compared with previous guidance in the range of 10% to 11%.

The somewhat gloomy outlook came as the company said volume in the third quarter fell 1.5% and revenue per unit case was up 2%.

The company declared a second-half interim dividend per share of €0.62, up 15.0% versus last year.

At 10:08am: [LON:CCEP] share price was -1.9p at 50.55p

Story provided by