Coke Enterprises sets profit, revenue growth plan-UPDATE 1

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Thursday September 09, 2010 04:56:12 AM GMT

* Sees long-term revenue growth 4-6 pct, income 6-8 pct

* Sees 2010 EPS $1.78 to $1.82

CHICAGO, Sept 7 (Reuters) - Coca-Cola Enterprises said it expects revenue to increase 4 percent to 6 percent annually, with earnings per share up in the high-single digits after its pending deal to sell some operations to Coca-Cola Co closes.

Coke Enterprises, the bottler and distributor whose North America operations will be acquired by Coca-Cola Co during the fourth quarter of fiscal 2010, also said it expects 2011 earnings growth will beat the long-term growth goal because of plans to repurchase about $1 billion in shares during the 18 months after the Coca-Cola Co deal closes.

The long-term forecast is currency-neutral and reflects expected growth in Europe, where the company will still operate after the deal with Coca-Cola Co closes, Coke Enterprises Chairman John Brock said in a statement.

The company also said it expects earnings for the current fiscal year to be $1.78 to $1.82 a share, up from its previous forecast of $1.73 to $1.76. (Reporting by Emily Stephensonl, editing by Dave Zimmerman)

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