From: Reuters
Published April 24, 2008 07:51 AM

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.

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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)

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