Coca Cola Enterprises says European operations are encouraging

Coca-Cola Enterprises said the strength of its current operations in Europe is encouraging, a new report states.

Despite a net loss of $1.45 billion (1.01 million pounds) for the fourth quarter of 2008, the group said full-year comparable volumes for the continent rose three per cent.

Chairman and chief executive officer John Brock said the company was also heartened by Europe’s ability to enhance profitability and control costs.

"Balanced volume and price growth combined with strong execution and continued expense management will be essential as we work to counter the impact of changes in Europe’s economic conditions," he added.

For the whole of 2008, Coca-Cola Enterprises recorded a net loss of $4.4 billion but said 2009 will involve any free cash flow being used for debt reduction.

Last September saw the group awarded with the Golden Peacock Award for its corporate social responsibility reporting – which may be of interest to those in science sales jobs.