<div><p>CHICAGO (Reuters) - Coca-Cola Enterprises Inc <CCE.N> raised its profit outlook for 2009 and gave a 2010 forecast in line with analysts' expectations as it works on drawing consumers to its drinks despite the downturn.</p><p>The largest bottler of Coca-Cola Co <KO.N> beverages said it plans to resume share repurchases during the first quarter of 2010 and should buy back about $600 million of stock by the end of the year. It also aims to increase its dividend annually.</p><p>Shares of Coke Enterprises rose 1.7 percent to $20.39 in midday trading.</p><p>The company, which bottles and distributes products ranging from Coca-Cola and Sprite to Minute Maid juice and Powerade sports drinks, has seen sales suffer as consumers avoid higher-priced drinks and cut back on dining out.</p><p>Price increases and initiatives such as selling 16-ounce cold bottles of Coca-Cola for 99 cents have helped the company protect its profits. The 99-cent initiative is driving one million additional transactions each week for the Coca-Cola system, Coke Enterprises said on a conference call.</p><p>Coke Enterprises also said it plans to raise prices in North America by 2 percent to 3 percent after the February 7 Super Bowl. The NFL's championship game is a busy time for soft drink companies as fans stock up for game-day parties.</p><p>HIGHER END OF FORECAST</p><p>The company said it now expects to earn $1.56 to $1.59 per share this year, up from an October forecast of $1.54 to $1.57. Analysts had been looking for $1.57, according to Thomson Reuters I/B/E/S.</p><p>The company's 2009 forecast includes a hit from currency fluctuations and excludes other items.</p><p>For 2010, it expects comparable earnings per share to rise in a high single-digit percentage rate, excluding the impact of currency. At current rates, currency would add about 4 cents per share to profit, Coke Enterprises said.</p><p>That view is in line with analysts' average forecast of $1.77 per share.</p><p>"This should be enough to appease investors as CCE's multiple (using consensus) had come down over the past few months," JPMorgan analyst John Faucher wrote in a research note.</p><p>Coke Enterprises expects revenue to rise in a low to mid single-digit percentage range this year, excluding the impact of currency. Including the currency hit, revenue should decline slightly.</p><p>For 2010, Coke Enterprises said it expects mid single-digit operating income growth in both Europe and North America. Revenue should rise at a low single-digit rate, driven by mid single-digit growth in Europe and slight growth in North America. North American volume should decline modestly.</p><p>Chairman and Chief Executive John Brock said his company would continue to work closely with Coke to address the challenging North American market in 2010.</p><p>Earlier this week, Coke's CEO said his company would stick with its business model, in which it sells drink concentrate to bottlers such as Coke Enterprises.</p><p>Rival PepsiCo Inc <PEP.N> is buying its two largest bottlers, Pepsi Bottling Group Inc <PBG.N> and PepsiAmericas Inc <PAS.N>.</p><p>(Reporting by Jessica Wohl; Editing by Lisa Von Ahn, Dave Zimmerman and John Wallace)</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=65605510&bid=informcom" /></div><div id="copyright"><div>

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