US: PepsiCo posts profits fall as 53rd week bites back

PepsiCo has posted a fall in full-year profits and sales as a 53rd week in 2011 results left a tough comparison.

Net profits were down by 4% to US$6.18bn in 2012, the New York-based company said today (14 February). Net sales slipped by 1.5% to $65.5bn over the same period while operating profits fell by 5% to $9.11bn.

PepsiCo said that, on an organic basis and discounting the effects of the extra week in 2011, net sales increased by 5%. The company did not give a value.

Fourth-quarter numbers showed more health. Net profits increased by 17% to $1.66bn in the three months to the end of December, but net sales decreased by 1% to $19.95bn. Operating profits slipped by 1.5% to $2.21bn. On an organic basis, sales increased by 5%.