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Coca-Cola European Partners quarterly EPS rises 19.5%

Coca-Cola European Partners PLC's diluted earnings per share increased 19.5% to 49 euro cents on a comparable basis for the fourth quarter of 2017, as revenue rose by 3.5%.

The company's preliminary unaudited results showed profit after taxes of €240 million for the quarter that ended Dec. 31, 2017, up 19.5% from the prior-year period.

Revenue came in at €2.66 billion, up 3.5% on a favorable price, promotion and channel mix.

Operating profit increased 9.5% to €341 million on a comparable basis for the quarter, as operating expenses increased 0.5% to €703 million.

The company said it also booked a nonrecurring tax expense of €320 million due to the impact of the new U.S. tax law.

"Whilst CCEP is a UK listed and tax resident entity, it has a number of subsidiaries outside the UK, including a US incorporated holding company that is wholly owned by CCEP plc," the company said.

In full-year terms, diluted EPS stood at €2.12 on a comparable basis in 2017, up 13.0% from last year.

The company said it expects 2018 revenue growth in a low-single-digit range, the same as its 2017 revenue outlook, while EPS growth is expected to be between 6% and 7%.