News Published on 28 Oct, 2009
Coca-Cola Enterprises enjoys 15.4% net income increase in Q3
Filed by Bill Bruce
Coca-Cola Enterprises has reported Q3 2009 net income of $247 million, or 50 cents per diluted common share. Excluding items affecting comparability, Q3 2009 net income was $254 million or 51 cents per diluted share, 12% above results for the same quarter a year ago.
Consolidated comparable third quarter operating income grew 5%. North American comparable operating income grew $23 million or 9% and, in Europe, operating income grew $46 million, or 17%, including a negative currency impact of approximately $31 million.
In the quarter, total revenues were down 3%, as North American revenue declined 4% and European revenue fell 1%. Excluding a negative currency impact of 3%, total revenues were flat. Comparable EPS results of 51 cents include a negative currency impact of approximately 4 cents.
“Year to date, we have achieved strong profit growth through successful execution of brand and marketplace initiatives and efficiency and effectiveness programs,” said John F Brock, chairman and chief executive officer. “Going forward, we continue to develop solid business plans for 2010 that will enable us to increase the efficiency and synergy of our system and deliver consistent, balanced growth.”
Source: Coca-Cola Enterprises Inc