Snacks and overseas business lift PepsiCo
Source: Agencies |
February 12, 2010, Friday
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Print Edition
Print Edition
PEPSICO Inc's fourth-quarter profit almost doubled on strength in its snacks business and overseas beverage operations.
The drink maker yesterday said it will continue to launch new snack products as well as speed up growth in developing markets, which it expects to boost revenue and profit.
The company, whose brands include Gatorade, Quaker and Pepsi-Cola, earned US$1.43 billion, even with the estimates of analysts polled by Thomson Reuters. These estimates normally remove one-time items.
Sales for the period ended December 26 climbed 4.5 percent to US$13.3 billion from US$12.74 billion. This edged out Wall Street's US$13.26 billion forecast.
North American beverage revenue dipped slightly to US$2.75 billion, while Frito-Lay North America snacks sales rose to US$3.89 billion. Not all was bleak for the beverage division though, as PepsiCo was encouraged by the performance of its SoBe Lifewater and Gatorade beverages, which gained market share during the quarter.
Snack sales have held up better for the company as people buy more food at grocery stores and eat out less often.
Overseas sales results were strong, with higher revenue in Europe and its international unit.
The company's annual profit rose to US$5.95 billion, up from US$5.14 billion in the prior year.
PepsiCo said it expects to close on its acquisitions of bottlers PepsiAmericas and the Pepsi Bottling Group by the end of the month.
The company said this year it will focus on creating more healthful foods and beverages for consumers, who have shifted more toward teas and juices and away from soda.
PepsiCo forecasts 2010 earnings will rise 11 to 13 percent on a constant currency basis.
The drink maker yesterday said it will continue to launch new snack products as well as speed up growth in developing markets, which it expects to boost revenue and profit.
The company, whose brands include Gatorade, Quaker and Pepsi-Cola, earned US$1.43 billion, even with the estimates of analysts polled by Thomson Reuters. These estimates normally remove one-time items.
Sales for the period ended December 26 climbed 4.5 percent to US$13.3 billion from US$12.74 billion. This edged out Wall Street's US$13.26 billion forecast.
North American beverage revenue dipped slightly to US$2.75 billion, while Frito-Lay North America snacks sales rose to US$3.89 billion. Not all was bleak for the beverage division though, as PepsiCo was encouraged by the performance of its SoBe Lifewater and Gatorade beverages, which gained market share during the quarter.
Snack sales have held up better for the company as people buy more food at grocery stores and eat out less often.
Overseas sales results were strong, with higher revenue in Europe and its international unit.
The company's annual profit rose to US$5.95 billion, up from US$5.14 billion in the prior year.
PepsiCo said it expects to close on its acquisitions of bottlers PepsiAmericas and the Pepsi Bottling Group by the end of the month.
The company said this year it will focus on creating more healthful foods and beverages for consumers, who have shifted more toward teas and juices and away from soda.
PepsiCo forecasts 2010 earnings will rise 11 to 13 percent on a constant currency basis.
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