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Coca-Cola European Partners fiscal Q2 profit climbs 23.6% YOY

Coca-Cola European Partners PLC said its normalized net income for the fiscal second quarter ended July 1 came to 55 euro cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS decreased 13.4% year over year from 63 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €182.9 million, a gain of 23.6% from €148.0 million in the prior-year period.

The normalized profit margin fell to 6.1% from 8.6% in the year-earlier period.

Total revenue grew 26.1% on an annual basis to €2.18 billion from €1.73 billion, and total operating expenses climbed 26.9% year over year to €1.86 billion from €1.46 billion.

Reported net income totaled €149.0 million, or 45 cents per share, compared with €150.5 million, or 64 cents per share, in the year-earlier period.