Coca-Cola Enterprises Q1 net falls
NEW YORK (Reuters) - Coca-Cola Enterprises Inc <CCE.N> reported a lower quarterly profit on Thursday despite a rise in sales, hurt by higher expenses, restructuring charges and weak sales in North America.
The largest bottler of Coca-Cola Co <KO.N> drinks said first-quarter net income fell to $8 million, or 2 cents per share, from $15 million, or 3 cents per share, a year ago.
Excluding 4 cents per share in restructuring charges and 2 cents per share in tax-related items, the bottler earned 8 cents per share.
The company said net operating revenue rose 7 percent to $4.89 billion, helped by a 1.5 percent increase in volume and a 4 percent increase in pricing.
For 2008, the bottler said it expects to earn $1.50 to $1.55 per share, with free cash flow of more than $700 million and capital expenditures of about $1 billion.
(Reporting by Martinne Geller, editing by Mark Porter)