Global sales help PepsiCo record $1.2 bn profit
PepsiCo said on Thursday quarterly profit rose 5%, as strong international results offset weakness in North America related to the weak economy.
By TNN & Agencies |
NEW YORK: PepsiCo said on Thursday quarterly profit rose 5%, as strong international results offset weakness in North America related to the weak economy.
The maker of Pepsi-Cola, Gatorade sports drink and Lay���s potato chips, which also affirmed its full-year outlook, reported first-quarter net income of $1.2 billion up from $1.1 billion a year earlier.
Net revenue rose 13% to $8.33 billion, including a 3 percentage-point benefit from foreign exchange rates. Company-wide volume rose 4%, despite a 0.6% decline in the Americas beverage business.
Volume rose 3% in the Americas foods business, 11% in the international foods business and 15% in the international drinks business.
The company expects 2008 performance to be in line with its long-term targets, with volume rising 3% to 5% and net revenue growing at a high single-digit percentage rate.
The maker of Pepsi-Cola, Gatorade sports drink and Lay���s potato chips, which also affirmed its full-year outlook, reported first-quarter net income of $1.2 billion up from $1.1 billion a year earlier.
Net revenue rose 13% to $8.33 billion, including a 3 percentage-point benefit from foreign exchange rates. Company-wide volume rose 4%, despite a 0.6% decline in the Americas beverage business.
Volume rose 3% in the Americas foods business, 11% in the international foods business and 15% in the international drinks business.
The company expects 2008 performance to be in line with its long-term targets, with volume rising 3% to 5% and net revenue growing at a high single-digit percentage rate.
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