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Coca-Cola European Partners profit misses consensus by 18.6% in Q2

Coca-Cola European Partners PLC said its second-quarter normalized net income came to 50 euro cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS climbed 25.7% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €242.5 million, a gain of 83.0% from €132.5 million in the second quarter ended July 1, 2016.

The normalized profit margin climbed to 7.9% from 6.1% in the year-earlier period.

Total revenue grew 40.7% on an annual basis to €3.05 billion from €2.17 billion, and total operating expenses increased 37.3% from the prior-year period to €2.64 billion from €1.92 billion.

Reported net income increased 97.4% from the prior-year period to €298.0 million, or 61 cents per share, from €151.0 million, or 45 cents per share.