Coke Enterprises posts higher net; backs outlook
Soft drink bottler Coca-Cola Enterprises Inc
The bottler of Coca-Cola
On a per-share basis, earnings were 28 cents, in line with the analysts' average estimate, according to Thomson Reuters I/B/E/S
Coca-Cola Enterprises sold its North American operations to Coca-Cola, its largest supplier, in October. The company now independently bottles and distributes Coke drinks in Western European countries that include Norway, Sweden, France, Belgium and Britain.
Sales rose 12 percent to $1.79 billion, beating the analysts' average estimate of $1.77 billion.
Volume rose 4 percent, and net pricing per case increased 1 percent in the fourth quarter.
The company stood by its 2011 outlook calling for earnings of $1.95 to $2.00 a share.
(Reporting by Dhanya Skariachan and Martinne Geller; editing by John Wallace and Lisa Von Ahn)
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