NEW YORK (Bloomberg) — Coca-Cola Enterprises Inc. increased its full-year 2010 earnings per share forecast for the existing company as revenue in North America steadies and sales in Europe improve.

Profit for Coca-Cola Co.'s largest distributor will be in a range of $1.78 to $1.82 including a negative currency effect of about seven cents at current levels, the Atlanta-based company said in a statement yesterday. It previously projected $1.73 to $1.77.

Coca-Cola Enterprises expects to complete the $12.3 billion sale of its North American bottling operations to franchiser Coca-Cola in the fourth quarter. By gaining control of the distributer, Coca-Cola aims to spur revenue and profit for soft drinks in North America, where industry sales have declined for five consecutive years.

After the sale, Coca-Cola Enterprises expects annual revenue to rise four percent to six percent, and operating income to increase six percent to eight percent, according to the statement. North American revenue will be little changed for the third quarter, Coca-Cola Enterprises said. It previously forecast a "flat to low single-digit decline" for the region.

The forecasts are "slightly ahead of expectations," Kaumil Gajrawala, an analyst with UBS Securities LLC in New York, said yesterday in a note to investors.

Coca-Cola Enterprises rose 19 cents to $29.56 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have jumped 39 percent this year.

Coca-Cola also is based in Atlanta.