US snacks and soft drinks company PepsiCo has reported a 13% rise in quarterly profit, helped by a strong performance by its snacks unit.
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The Purchase, New York-based company posted earnings of US$1.08bn, or 62 cents a share, in the third quarter to 6 September, compared to $953m, or 53 cents a share, a year earlier. The result met analysts’ expectations, reported Reuters.
The company’s Frito-Lay North America snacks division posted an 8% rise in quarterly profit, thanks in part to a new version of its Cheetos snack.
Revenue increased 8.4% to $6.83bn for the quarter, compared to $6.30bn a year earlier.
PepsiCo’s total sales volumes rose 5% in the third quarter, with growth in both beverages and snacks.
