Shares in PepsiCo increased 3.5% today (23 July) on news the firm was raising its full year-earnings outlook.
PepsiCo posted a net profit increase of 3% to US$3.2bn for the first half of 2014 – the period ended 15 June. Operating profit was up 4% to US$4.7bn. Sales were flat at US$29bn.
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Chairman and CEO Indra Nooyi said: “Despite operating in what continues to be a challenging and volatile macro environment, we are delivering consistent, strong results.”
For the second quarter of 2014, PepsiCo reported sales growth of 0.5% to US$16.9bn, impacted by unfavourable foreign exchange and the 2013 re-franchising of the company’s bottling operations in Vietnam.
Operating income was up 1.1% and net income fell 2% to US$1.9bn versus the same period last year.
Nooyi, however, expressed confidence PepsiCo could deliver on profit expectations for the year, based on the year-to-date. As a result, PepsiCo has increased its full-year EPS growth forecast from 7% to 8%.
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By GlobalDataShares in PepsiCo were US$92.30 at 14.37 BST today (23 July).
