US food and soft drink company PepsiCo has reported earnings of US$805m, or 46 cents a share, for the fourth quarter of 2002, compared to $667m, or 37 cents a share, a year earlier.

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PepsiCo, which makes Frito-Lay snacks and Pepsi-Cola soft drinks, said that on a comparable basis, which accounts for a number of items, it earned 50 cents per share.

Analysts polled by Thomson First Call had expected profit of 47 cents to 51 cents per share, with a mean of 50 cents, reported Reuters.

PepsiCo’s sales increased to $7.46bn from $6.97bn a year earlier.

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