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Coca-Cola European Partners fiscal Q1 profit climbs 6.7% YOY

Coca-Cola European Partners PLC said its normalized net income for the fiscal first quarter ended April 3 amounted to 33 cents per share, a gain of 15.6% from 28 cents per share in the first quarter ended March 28, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $79.1 million, an increase of 6.7% from $74.1 million in the first quarter ended March 28, 2014.

The normalized profit margin declined to 5.3% from 5.4% in the year-earlier period.

Total revenue increased 9.1% on an annual basis to $1.48 billion from $1.36 billion, and total operating expenses climbed 9.2% on an annual basis to $1.33 billion from $1.22 billion.

Reported net income grew 5.0% from the prior-year period to $87.4 million, or 36 cents per share, from $83.2 million, or 32 cents per share.