Coca-Cola Europacific Partners (CCEP) sales have jumped following price increases, in “another solid year” for the drinks giant.

For the full year ended 31 December 2024, sales increased 11.7% to €20.4bn (£16.9bn) as the company said it continued to deliver more sales growth for retail customers in key markets than any FMCG rivals.

However, group operating profit was down 8.8% to €1.94bn, which CCEP said came as a result of factors including higher concentrate costs and production inflation in manufacturing. Underlying profits increased 8% to €2.7bn (£2.2bn).

In the UK specifically, full year sales rose 2.8% to €3.3bn (£2.7bn), which the FMCG giant said was driven by headline price increases implemented towards the end of the second quarter.

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Positive brand mix also contributed to the growth, with good performance from brands such as Monster and Powerade, as well as the de-listing of Capri Sun.

In the UK, brands including Coca-Cola Zero, Dr Pepper, Monster and Powerade experienced high single-digit full year volume growth.

CCEP chief executive Damian Gammell said it had been “another solid year” for the business.

“We’ve grown share ahead of the market, created value for our customers, delivered underlying volume growth and gains in revenue per unit case through revenue and margin growth management,” he said. “Actively managing pricing and promotions across our broad pack offering ensures we are relevant to all consumers, while driving profitable revenue growth.”

Looking ahead, CCEP expects sales to grow around 4% in 2025, with operating profit of 7%.

Gammell added: “We are well placed for 2025 and beyond in categories that are growing, with strong investment and commercial plans in place to drive growth. We are confident that we have the right strategy, done sustainably to deliver on our mid-term growth objectives.”