US: Coca-Cola Enterprises raises outlook as H1 profits rise
Coca-Cola Enterprises has upped its full-year outlook
Coca-Cola Enterprises has upped its full-year outlook as it recorded an increase in profits for the first half of the year.
For the six months to the end of June, the company earned US$462m compared to $374m in the prior year. Operating profits rose to $876m from $790m last year, CCE said today (28 July), while net sales dropped by 1% to $10.85bn.
In the second quarter, net profits amounted to $356m from $313m in the prior year, while operating profits rose to $602m compared to $549m last year.
Net sales however, dropped slightly to $5.88bn, a 0.5% slide on 2009.
The company said it now expects full-year comparable earnings per share in the range of $1.73 to $1.77.
Operating profits are expected to increase in a 10% to 12% range, with mid single-digit growth in North America and high single-digit growth in Europe.
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