US: PepsiCo shares down despite 71% rise in Q3 profit
PepsiCo yesterday (12 October) reported that third-quarter profits jumped 71% in comparison with last year's Q3 results, which were depressed by a tax charge. Sales for the third quarter of this year were up 9.4% on last year's figures. However, the soft drink and food manufacturer's warning of increased costs, particularly the price of oranges, depressed the maker of Tropicana's share price, which closed 2% lower at US$62.85.
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