US: PepsiCo posts YTD profit increase
PepsiCo saw its earnings and sales climb in the YTD period
PepsiCo has posted a strong jump in year-to-date group profits, despite what it describes as "ongoing macro-economic volatility" in many of its markets.
Net profits in the nine months to 7 September were up by 10% year-on-year, to US$5bn, the group said today (16 October). Net sales rose by 1.6% to $46.3bn over the same period, while operating profits climbed by 6% to $7.3bn.
In the group's PepsiCo Americas Foods division, operating profit climbed 8% to $3.99bn, while sales were up 5% to $17.23bn.
Frito-Lay North America experienced operating profit growth of 7% to $2.71bn in the period. Sales in the division were up 4% to $9.88bn.
"We're pleased with our performance," said CEO Indra Nooyi. "PepsiCo has delivered double-digit core constant currency earnings per share growth year to date, despite ongoing macro-economic volatility in many markets. We're able to perform well in these conditions because our brands are strong, our product portfolio is on-trend, and our geographic footprint is broad and diverse. Importantly, we have continued to make marketplace investments to strengthen our foundation for sustainable growth."
Click here to view the full earnings release.
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