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Coca-Cola Europacific Partners PLC (LSE:CCEP, NASDAQ:CCEP) was hit by profit-taking after the drinks bottler reported higher first-half profit and reaffirmed its full-year guidance.

The shares fell 4.3% to 7,710p, having hit an all-time high in the run-up to the interim results. 

Revenue increased 4.4% to €10.7 billion in the six months to 3 July, or 6.1% on a comparable currency-neutral basis. Reported operating profit rose 6.9% to €1.5 billion, while diluted earnings per share climbed 9.1% to €2.17.

However, second-quarter revenue growth slowed to 2.5%, or 3.3% excluding currency movements. Revenue per unit case edged up just 0.1%, even as volumes grew 3.2% after adjusting for trading days.

In Europe, quarterly volumes increased 2.3%, supported by warmer weather in June and the company's FIFA World Cup marketing campaign. Asia-Pacific volumes rose 5%, driven by the Philippines and a recovery in Indonesia.

Chief executive Damian Gammell said the consumer environment remained challenging, while the full impact of the conflict in the Middle East was uncertain.

The group retained its guidance for currency-neutral revenue growth of between 3% and 4% in the 2026 financial year, alongside operating profit growth of around 7%.

It also continues to expect free cash flow of at least €1.7 billion. Coca-Cola Europacific Partners has completed €593 million of its planned €1 billion share buyback.