US: Coca-Cola Enterprises expects FY earnings at top end of guidance
CCE has forecast its EPS will be at the high end of previous guidance
Coca-Cola Enterprises (CCE) has said it 2012 earnings will be at the “high end” of its forecast, while its board has approved a US$1.5bn share repurchase program.
The Atlanta-headquartered bottler previously set its earnings-per-share guidance at $2.20 to $2.24. Its 2013 earnings are also expected to grow by around 10%, the company said today (18 December).
CCE, the Coca-Cola Co's anchor bottler for Western Europe, predicts its 2013 dividend pay-out to increase by at least 15%.
On the $1.5bn share repurchase program, the company said: “At least $500 million in repurchases are expected under this program in 2013. These plans may be adjusted depending on economic, operating, or other factors, including acquisition opportunities.”
In October, the group reported a slide in net profits, flagging "ongoing macroeconomic weakness".
Shares in CCE are today up by 2.89% at $31.99 on the New York Stock Exchange.
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