US: Coca-Cola Enterprises affirms FY targets
Coca-Cola Enterprises has affirmed its full-year guidance, with business in its second quarter continuing in line with expectations.
The company, which sells around 80% of Coca-Cola Co.'s volume in North America, said yesterday (14 May) that it maintains earnings guidance for 2009 of between US$1.24 and $1.29 per share.
The guidance excludes one-time, non-recurring items and includes an estimated $0.20 per share negative impact from currency translation based on recent rates, CCE added.
The update was issued ahead of a presentation by company chairman and CEO, John Brock, at the Goldman Sachs Consumer Products Symposium, which took place yesterday afternoon.
Last month, CCE raised its full year profits guidance, as both sales and profits increased in its first quarter.
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