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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Camco Clean | LSE:CCE | London | Ordinary Share | GB00B11FB960 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
DOW JONES NEWSWIRES
Coca-Cola Enterprises Inc. (CCE) swung to a fourth-quarter net loss on a $2.3 billion write-down on the value of North American franchise licenses as revenue and margins fell for Coca-Cola Co.'s (KO) biggest bottler.
Soda bottlers have struggled with weakened volumes as North American turn to other drinks, including bottled water and vitamin-infused beverages. The industry is seeing some benefit as commodity costs moderate from last summer's high.
Coca-Cola Enterprises posted a fourth-quarter net loss of $1.45 billion, or $2.99 a share, compared with year-earlier net income of $158 million, or 32 cents a share. Excluding items such as the write-down, caused in part by CCE's tumbling stock price, earnings fell to 22 cents from 29 cents.
Revenue decreased 1.2% to $5.24 billion as higher prices nearly offset a 5% volume drop.
Analysts polled by Thomson Reuters expected earnings of 19 cents a share on revenue of $5.23 billion.
Gross margin edged down to 37% from 37.7%.
North American volume slumped 7% amid a 9.5% price increase while European volume rose 1.5% while prices per case rose a more modest 2.5%.
Coca-Cola Enterprises, which reiterated its 2009 earnings forecast, sees volume falling again this year in North America, but the region's revenue should grow by the mid-single digits on a percentage basis because of the price hikes. The same revenue increase is seen for Europe as volume will grow "modestly."
Coca-Cola Enterprises in December announced a restructuring aimed at boosting operating profit by $150 million by 2011 for the company and Coca-Cola. The moves will include efforts to better coordinate capacity and transportation planning with concentrate producer Coca-Cola.
Coca-Cola Enterprises shares closed Tuesday at $11.95 and there was no premarket trading. The stock has lost more than half its value since March.
-By Shirleen Dorman, Dow Jones Newswires; 201-938-2310; shirleen.dorman@dowjones.com
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