PepsiCo has upped its forecast for annual earnings after booking year-on-year sales and profit growth in the first nine months of 2014.
The US group said now expects a 9% hike in constant-currency earnings per share this year, up from prior guidance of an 8% increase. Sales are still expected to rise in the “mid single digits”.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In the 36 weeks to 6 September, PepsiCo said revenues rose 1% to US$46.7bn. In the developed markets of the US and Europe overall sales were relatively flat, as higher sales at the group’s US snack unit, Frito-Lay North America, offset a decline at its US breakfast business, Quaker North America. The company also saw top-line growth in the emerging markets of Latin America, Asia, the Middle East and Africa.
Operating profit increased ahead of sales, rising 3% to $7.5bn. Gains were driven by lower amortisation costs, which were down 14% on the year. Net income was up 4% to $5.2bn in the nine month period.
Click here to view the announcement.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
