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Coke Entrprises higher profit tops expectations
October 28, 2009 / 11:49 AM / 8 years ago

Coke Entrprises higher profit tops expectations

CHICAGO (Reuters) - Coca-Cola Enterprises Inc CCE.N reported a bigger-than-expected increase in quarterly profit on Wednesday, helped by higher prices, and raised its full-year outlook.

The largest bottler of Coca-Cola Co (KO.N) drinks earned $247 million, or 50 cents per share, in the third quarter, up from $214 million, or 44 cents per share, a year earlier.

Excluding items, it earned 51 cents per share, topping analysts’ average forecast of 46 cents, according to Thomson Reuters I/B/E/S.

Sales fell 3 percent to $5.57 billion.

The bottler said it now expects to earn $1.54 to $1.57 per share this year. Last month, it said it expected earnings to be at the higher end of its previous forecast of $1.44 to $1.49 per share.

Reporting by Jessica Wohl, additional reporting by Martinne Geller in New York; editing by John Wallace

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