Coke Enterprises reports lower sales, profit

Thu Jul 25, 2013 7:59am EDT

A view of Coca-Cola bottles at the opening ceremony of a Coca-Cola factory outside of Yangon June 4, 2013. REUTERS/Soe Zeya Tun

A view of Coca-Cola bottles at the opening ceremony of a Coca-Cola factory outside of Yangon June 4, 2013.

Credit: Reuters/Soe Zeya Tun

(Reuters) - Soft drink bottler Coca-Cola Enterprises Inc (CCE.N) reported lower quarterly earnings on Thursday, blaming the weather, a sluggish economy and tough competition in Britain.

Net income was $182 million, or 66 cents per share, in the second quarter, down from $205 million, or 67 cents per share, a year earlier.

Excluding items, earnings were 77 cents per share, 1 cent better than Wall Street analysts were projecting, according to Thomson Reuters I/B/E/S.

Sales fell 2.4 percent to $2.16 billion, about in line with analyst estimates.

For 2013, the company said it expects comparable earnings per share in a range of $2.45 to $2.50, while Wall Street has been expecting $2.48.

(Reporting by Phil Wahba in New York; Editing by Gerald E. McCormick)

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