US: Coca-Cola Enterprises FY sales expected to slow, confirms CFO switch
Coca-Cola Enterprises will present at Barclays' Back-To-School conference in the US today
Coca-Cola Enterprises is set to detail its full-year guidance for 2013, but has warned that sales for the year will be lower than originally forecast.
Earlier this year, the company said it expected net sales this year to rise within a mid-single digit range. However, at a presentation at the Barclays Back-to-School Conference in Boston today (5 September), CCE will say that sales in 2013 are now forecast to grow in a low-single-digit-range.
Despite the sales numbers, CCE will use the conference to issue an earnings-per-diluted share outlook in the upper half of its previously-stated range of US$2.45 to $2.50.
Operating profits this year are expected to grow in a low to mid-single-digit range.
Jhangiani, currently VP of European finance at CCE and formerly CFO of Coca-Cola Hellenic, will assume the role on 1 November, as Douglas has “assumed additional responsibility for CCE’s supply chain organisation”, the firm said.
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