US: CCE shares plunge 18%
The soft drink bottler Coca-Cola Enterprises saw its share price fall 18% yesterday, following second quarter results that fell short of analysts expectations.
Yesterday, CCE said it predicted a "difficult" third quarter and added that full year earnings were now expected to come in at the low end of estimates.
The company's shares finished yesterday on US$20.63, down US$4.40.
Announcing results yesterday, CCE said that it had been hit by poor weather in Europe. It reported that econd quarter operating income reached only US$451m, a 15% fall on the same period last year./
Excluding the US$41m of higher cost of sales, comparable operating income declined 7% for the second quarter and increased 14% for the first six months, the company said.
While the overall market for tea in the UK has declined by some 12% over the past five years, iced tea consumption is on the rise. Annette Sessions reports on the potential for iced tea in the UK and ...
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Coca-Cola Enterprises (CCE) has appointed Donna A. James as a director....
Coca-Cola Enterprises has announced details of its regular quarterly dividend....
Coca-Cola Enterprises is in talks to acquire just over 50% of Bravo! Foods International Corp....
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