US: Coca-Cola Enterprises reaffirms 2002 outlook
US Coke bottler, Coca-Cola Enterprises, has reaffirmed its forecasts for the 2002 fiscal year. CEO, Lowry Kline, said that the company, 40%-owned by Coca-Cola, expects to record earnings of before interest, taxes, depreciation and amortization of between US$2.33 billion and US$2.38 billion. He also predicted annual earnings per share of between 83 cents and 88 cents.
The estimates remained in line with earlier earnings guidance issued by the company. According to the Thomson/First Call poll, the average analyst prediction for earnings per share is 87 cents.
Capital expenditure at Coca-Cola Enterprises this year is estimated to be in the region of US$1 billion to US$1.05 billion, equivalent to 6% to 6.5% of revenue. Kline said in the future it would be looking to restrict capital expenditure to 6% of revenue.
Companies: Coca-Cola Enterprises
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