Coke Enterprises sees weaker than expected profit growth in 2011

DETROIT (BestGrowthStock) – Soft drink bottler Coca-Cola Enterprises Inc (CCE.N: ) gave a 2011 profit growth forecast that fell short of most analysts’ estimates.

The company expects 2011 earnings per share to rise 10 percent to 12 percent. It also forecast mid single-digit growth in 2011 revenue.

Based on its 2010 outlook, the top end of its forecast implies earnings per share of $1.99, compared with the average analyst estimate of $2.01 as compiled by Thomson Reuters

I/B/E/S.

Coke Enterprises expects 2010 earnings in the range of $1.74 to $1.78 a share and pro forma revenue of about $7.4 billion. Analysts expect 2010 earnings per share of $1.79 on revenue of $7.4 billion.

Chief Executive John Brock said in a statement on Friday the 2011 forecast reflects the potential growth of the European markets the company serves.

“Our operating expectations for both 2010 and 2011 meet or exceed our long-term growth targets, with our 2011 earnings per share outlook ahead of target as a result of share repurchase,” he added.

Coke Enterprises in October became a company that operates solely in Europe after Coca Cola Co (KO.N: ) took over its North American operations.

(Reporting by Ben Klayman. Editing by Robert MacMillan and Derek Caney)

Coke Enterprises sees weaker than expected profit growth in 2011