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Business update issued by Coca-Cola Enterprises
Coca-Cola Enterprises has announced long-term financial objectives for new CCE, and said it expects the pending transaction with The Coca-Cola Company to close in the fourth quarter.
In addition, the company increased its full-year 2010 earnings per share guidance for the existing company to a range of $1.78 to $1.82, including a negative currency impact of approximately seven cents at current levels.
On a long-term basis, new CCE’s objectives are to achieve these comparable and currency neutral growth rates:
- Revenue growth of 4–6%
- Operating income growth of 6–8%
- Earnings per share growth in a high single-digit range
- Return on invested capital improvement of 20 basis points or more per year.
“These metrics reflect the solid growth opportunity that lies ahead in Europe,” said John F Brock, chairman and CEO. “They exceed our current long-term objectives. We’re committed to these financial objectives and, in turn, to creating real value for our shareowners, our customers and our employees.”
For 2011, earnings per share will likely exceed long-term objectives as a result of share repurchase activity.
Read the full Coca-Cola Enterprises press release at this link.
Source: Coca-Cola Enterprises
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