USA: PepsiCo posts 15% rise in Q1 earnings
US snacks and soft drinks maker PepsiCo has reported a 15% rise in first-quarter earnings, and said growth was strong across its portfolio.
The company posted net income of US$804m, or 46 cents per share, for the first quarter to 20 March, compared to $698m, or 40 cents per share, in the year-ago period. Revenue rose 11% to $6.13bn from $5.53bn a year earlier.
"The first quarter was just outstanding, with a second consecutive quarter of double-digit division revenue growth. Across the businesses, we're producing strong growth," said CEO Steve Reinemund.
The company's snack foods unit, Frito-Lay North America, posted first-quarter revenue of $2.14bn, up 6% from $2.03bn a year earlier. The unit posted operating profit of $510m, compared to $472m in the year-ago quarter. The company said the solid first-quarter revenue growth reflects increased volume, positive mix, and modest pricing.
PepsiCo International posted a 19% rise in first-quarter revenue to $1.89bn. International snack volume increased 10%, fuelled by double-digit growth in Mexico at Sabritas and in Brazil, double-digit growth in Turkey and mid-single digit growth at Walkers in the UK.
Reinemund said the company's outlook for 2004 remains "very positive". PepsiCo has targeted 2004 earnings per share of around $2.29.
Consumer goods giant Sara Lee Corporation has announced today that it has reached agreement on the principal terms and conditions for the sale of its European nuts and snacks business in the Netherlan...
Snacks and soft drinks giant PepsiCo has announced its agreement, pending government approval, to purchase Stacy's Pita Chip Company, the top-selling maker of pita chips with sales approaching $60m th...
US snacks giant Frito-Lay, part of PepsiCo, has announced that it is to cut between 200 and 250 jobs as part of a move to streamline its organisation....
UK snack maker Walkers, part of US giant PepsiCo, is to launch a beef jerky product under its Nobby's brand that aims to compete with Unilever's Peperami meat snack....
Frito-Lay India, the Indian snacks division of US giant PepsiCo, is set to launch several Quaker breakfast cereal brands onto the Indian market by the end of the year....
US snacks and soft drinks giant PepsiCo has reported lower third-quarter profit, due to a tax charge related to international profit repatriation....
Food and drink company Pepsico is to close its Walkers snack factory in Swansea, in South Wales, with the loss of 250 jobs, reports the BBC....
Rumours of a bid by PepsiCo for Danone sent the French dairy firm's shares soaring, but led to an outcry among French politicians worried about the loss of a 'national champion'. PepsiCo's insistence ...
- Analysis: Post discusses rationale for Weetabix
- Interview: Sir Kensington's on sale to Unilever
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Interview: "Disruptive" snack brand Hippeas
- Unilever buys US condiments maker Sir Kensington's
- Nestle organic growth slows but beats expectations
- Ice cream helps Unilever sales, food flat
- Suntory to offload Australia, New Zealand foods
- ABF buys UK sports nutrition firms H5, Reflex