USA: Coca-Cola Enterprises Reports Third-Quarter 2000 Results
Third-quarter 2000 net income per common share was 27 cents, excluding the insurance proceeds.Constant territory volume declined 1 1/2 percent in both North America and Europe for the third quarter of 2000. Coca-Cola Enterprises today announced third-quarter 2000 cash operating profit(a) was $711 million, and net income applicable to common shareowners was $130 million, or 30 cents per diluted common share. Third-quarter 2000 results include $20 million of insurance recovery related to the 1999 recall of the Company's products in certain European territories. Adjusting for the insurance proceeds, comparable cash operating profit totaled $691 million for the quarter and net income per diluted common share totaled 27 cents. Comparable cash operating profit for the first nine months increased to approximately $1.9 billion, up 5 percent from adjusted 1999 levels. Earnings per diluted common share increased to 49 cents on a year-to-date basis, excluding nonrecurring items. "The people of Coca-Cola Enterprises have built the strongest distribution system in the industry by focusing on superior marketplace execution, local management authority, and local brand building initiatives," said Summerfield K. Johnston, Jr., chairman and chief executive officer. "These strengths - combined with the renewed local focus of The Coca-Cola Company - will enable us to reinvigorate volume growth and drive increasing levels of profitability."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- No Home Comfort for TWE as Bids Collapse
- Treasury Wine Estates: Here I Go Again On My Own
- Bacardi Seeks Own History at Bombay Sapphire Home
- Will low-alcohol wines wither on the vine?
- Private-equity bids "over" - TWE head
- Diageo's Johnnie Walker hit by Travel Retail slump
- Carlsberg suspends production at Russian brewery
- Treasury Wine Estates pulls plug on takeover talks
- Quintessential Brands changes MD at Essential unit
- DS Services lines up ex-Pernod Ricard exec as COO