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Coke Enterprises profit tops view


    NEW YORK (Reuters) - Coca-Cola Enterprises Inc reported a better-than-expected quarterly profit on Wednesday excluding items, helped by a slight improvement in North American business trends.

    The largest bottler of Coca-Cola Co drinks reported a net loss of $1.45 billion, or $2.99 per share, compared to a net profit of $158 million, or 32 cents per share, a year ago.

    Excluding a $2.3 billion impairment charge related to writing down the value of its North American franchise license, the bottler earned 22 cents per share.

    Analysts on average were expecting 19 cents per share, according to Reuters Estimates.

    Sales fell to $5.24 billion from $5.30 billion a year ago.

    The company affirmed its 2009 forecast, saying it expects operating income to grow at a low single-digit rate and earnings per share to grow at a mid single-digit rate.

    That forecast excludes the impact of the strengthening U.S. dollar, which is expected to shave earnings 20 cents per share.

    (Reporting by Martinne Geller, editing by Maureen Bavdek)