Coca-Cola Enterprises income up 4% in quarter
October 28, 2010
ATLANTA — With strength in Europe and recently giving up North American territory to Coca-Cola impacting results, income for Coca-Cola Enterprises, Inc. during the third quarter was up 4%.
For the quarter the company had income of $208 million, equal to 61c per share on the common stock, which compared with income of $200 million, equal to 59c per share, during the same quarter of the previous year. During the quarter the company had operating income of $244 million, down 11% from $273 million during the same quarter of the previous year.
“These positive results represent an outstanding first step for our company as we work to capitalize on the excellent growth opportunities that lie ahead in Europe,” said John F. Brock, chairman and chief executive officer. “To achieve continued success, especially in a time of soft macroeconomic conditions, we must reach even higher levels of service and marketplace execution for our customers.
“We will accomplish this by continuing to work closely with The Coca-Cola Co. and focusing on our three key strategic priorities — our brands, our customers, and our people — as we strive to achieve our vision of being the best beverage sales and customer service company. This will enable us to build increasing value for our customers, our shareowners, and each stakeholder in our company.”
During the recent territory swap with Coca-Cola, Coca-Cola Enterprises picked up the territories of Norway and Sweden.
For the nine months, the company had income of $527 million, or $1.55 per share, up 9% from $485 million, or $1.43 per share, during the same period of the previous year. Operating income for the period was $676 million, down 1% from $667 million during the same period of the previous year.