Earnings dip at Coca-Cola firm

COCA-COLA Enterprises’ earnings fell 11 per cent in the fourth quarter as Europe’s largest Coca-Cola bottler faced restructuring costs.

The Georgia-based company reported net income of $100m (£63.7m), or $0.34 per share for the fourth quarter, down from $113m or $0.36 per share in the fourth quarter of 2011.

Excluding items, comparable net income for the quarter was $131m or $0.45 per share, compared to $116m or $0.36 per share a year earlier.

The firm forecast per-share earnings would rise 10 per cent, with sales growing in a mid-single digit range in the new year, despite economic pressures in Europe.