Coca-Cola Enterprises Inc predicted 2010 earnings growth on Tuesday that was slightly better than its prior forecast, citing positive second-quarter trends.
The largest bottler of Coca-Cola drinks expects its 2010 earnings to rise 10 percent to 12 percent this year, excluding the impact of foreign currency fluctuations. Its prior forecast called for growth of 10 percent.
A strong first quarter, coupled with positive second-quarter trends, in-line expectations in North America and a modestly improving outlook in Europe, give us increased confidence in the full year outlook, said Chief Executive John Brock in a statement.
CCE, which is the process of being acquired by Coca-Cola Co -- its largest shareholder and supplier -- also said exchange rates would shave off about 10 cents per share from its full-year earnings, based at current rates.
In April, it predicted a currency hit of 3 cents per share for the rest of the year, based on exchange rates at the time, which would have resulted in a full-year hit of about 2 cents per share.
Brock also said the deal remains on track, echoing comments made by Coke CFO Gary Fayard on Monday [ID:nN14201745].
(Reporting by Martinne Geller, editing by Leslie Gevirtz)