Shares of Coca-Cola European Partners PLC (NYSE:CCE) ended Tuesday session in red amid volatile trading. The shares closed down -0.12 points or -0.30% at $39.40 with 1.66 million shares getting traded. Post opening the session at $39.11, the shares hit an intraday low of $38.95 and an intraday high of $39.59 and the price vacillated in this range throughout the day. The company has a market cap of $19.07 billion and the numbers of outstanding shares have been calculated to be 482.55 million shares.
Coca-Cola European Partners PLC (CCE) on September 22, 2016 announced its interim results for the six months ended 1 July 2016 and affirms full-year 2016 earnings outlook.
- First-half diluted earnings per share were €0.74 on a reported basis or €0.83 on a pro forma comparable basis, including a negative currency translation impact of €0.02.
- First-half reported revenue totaled €3.5 billion. Pro forma comparable revenue was €5.2 billion, down 3 per cent, or down 1.5 per cent on a pro forma comparable and fx-neutral basis. Volume declined 1.0 per cent on a comparable basis.
- First-half reported operating profit was €314 million; pro forma comparable operating profit was €603 million, down 2.5 per cent or flat on an fx-neutral basis.
- CCEP provides its full-year guidance for 2016, including pro forma comparable, fx-neutral diluted earnings per share growth in a mid-teen range, with flat revenue growth and modest mid-single-digit operating profit growth.
- CCEP remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.
- CCEP declares initial quarterly dividend of €0.17 per share.
“Since the creation of Coca-Cola European Partners nearly four months ago, our strong belief in the future of our new company has been reinforced,” said John F. Brock, chief executive officer. “We are making significant progress to integrate the new business, share best practices and become even more effective and efficient.
“Our first-half results reflect the continued impact of a soft consumer environment and persistent economic challenges,” Mr. Brock said. “These conditions support our focus on executing against our outstanding marketing programmes, improving our operational effectiveness and integrating CCEP to capture synergies as we work to reach our full-year 2016 performance objectives.”
Shares of General Mills, Inc. (NYSE:GIS) ended Tuesday session in green amid volatile trading. The shares closed up +0.02 points or 0.03% at $63.92 with 2.69 million shares getting traded. Post opening the session at $64.06, the shares hit an intraday low of $63.56 and an intraday high of $64.08 and the price vacillated in this range throughout the day. The company has a market cap of $37.56 billion and the numbers of outstanding shares have been calculated to be 591.38 million shares.
On Sept. 27, 2016 The General Mills Board of Directors declared a quarterly dividend at the prevailing rate of $0.48 per share, payable November 1, 2016, to shareholders of record as of October 10, 2016. General Mills (GIS) current annualized dividend rate of $1.92 per share represents an increase of 8 percent over the annual dividend of $1.78 paid in fiscal 2016.