Earnings jump at Coca-Cola Enterprises

COCA-COLA Enterprises yesterday reported higher-than-expected 24 per cent rise in quarterly earnings, helped by volume increases and foreign currency movements.

Western Europe’s biggest bottler of Coca-Cola drinks said net income rose to $246m (£150m) from $199m a year earlier. On a per-share basis, earnings were 74 cents.

Revenue rose 22 per cent to $2.41bn, while sales by volume rose 4.5 per cent.

The company said it still expects earnings of $2.10 to $2.15 per share in 2011, including a benefit of 15 cents per share from the weak US dollar.

Following Coca-Cola’s acquisition of the bottler’s North American operations, Coca-Cola Enterprises has become a US-based company operating only in Europe.

It buys syrup concentrate from Coke and bottles and distributes drinks in seven nations including Britain and France.