just The Preview - PepsiCo's Q3 & YTD
PepsiCo will release its results tomorrow
PepsiCo will report its first-half results tomorrow. Here just-drinks takes a look at the group's highs and lows in beverages for the three months to the end of September:
- In July, the group's CEO Indra Nooyi said the US is seeing a “profound” change in eating and drinking habits, but suggested the media and bloggers are partly to blame for a mistrust of food and drinks producers.
- In an exclusive two-part interview with just-drinks, Dr Mehmood Khan, PepsiCo's chief scientific officer for global research & development outlined how the company has ramped up its focus on innovation in the past seven years.
- Also in July, company director James Schiro resigned from the firm's board due to “personal health reasons”.
- In September, Nooyi said she was “deeply disturbed” by reports of abuse by US National Football League players and the game's administrators' “mishandling” of the claims.
- In the same month, PepsiCo elected the head of an MIT-affiliated biomedical research centre, David Page, to its board of directors.
- Also in September, the group said it had poached Samsung Electronics executive Luke Mansfield to lead its focus on innovation in the beverage sector.
- Days later, PepsiCo, along with The Coca-Cola Co and Dr Pepper Snapple Group, pledged to reduce beverage calories consumed in the US by one-fifth over the next ten years.
- At the end of September, PepsiCo cut the ribbon on an R&D facility in Dubai to develop new flavours for Middle Eastern consumers.
In the first quarter of the company's fiscal year:
- Group net profits rose 13% to US$1.21bn
- Net sales in three months to end of March were flat at $12.6bn
- Operating profits climbed 9% to $1.8bn
- Beverage volumes flat
- Group net profits increased by 3.3% to US$3.21bn
- Sales flat at $29.52bn
- Operating profits lifted by 3.9% to $4.70bn
- Beverage volumes in Q2 up by 1%
Long viewed as the safe bet in global soft drinks, Dr Pepper Snapple Group has shown this year that it is not immune from changing consumer trends and product innovation. Yesterday's US$20m splurge is...
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