US snack and soft drink giant PepsiCo has lowered its sales and earnings outlook for the full year as it steps up investments in driving growth and profits.

The company yesterday (8 December) lowered the top-end of its guidance ranges, with net revenue expected to rise by about 5% and earnings per share expected to rise by between 5% and 6%, on a constant currency basis.

PepsiCo had previously said that it expects 2009 net revenue and EPS to rise in at a mid-to-high single-digit range.

The maker of Quaker and Frito-Lay said that it still anticipates fiscal 2010 EPS growth of 11-13% on a constant currency basis, excluding one-off items.