US: Dr Pepper Snapple Group posts FY profits rise
- Full-year net profits climb by 14.8% to US$606m
- Operating profits hold steady at $1.02bn
- Net sales rise by 4.8% to $5.9bn
- Fourth-quarter net profits soar by 48.2% to $166m
Dr Pepper Snapple saw its full-year net profits climb by 14.8%
Dr Pepper Snapple Group (DPSG) has posted an increase in full-year profits, boosted by price rises during 2011.
The Sunkist and 7UP maker saw net profits increase by 14.8% in the 12 months to the end of December, to reach US$606m. Operating profits remained flat at $1.02bn, partially offset by higher packaging and ingredient costs, the company reported today (15 February).
Sales in the period rose by 4.8% to reach $5.9bn, reflecting “four percentage points of pricing, favourable mix and the impact of repatriated brands”. The figure was partially offset by lower sales volumes.
In the fourth quarter, net profits soared by 48.8% to reach $166m, while operating profits edged up 1.1% to $271m. Sales in the period amounted to $1.46bn, a 3.5% increase on the prior-year period.
“Looking forward we are cautiously optimistic about the economic recovery,” said DPSG's president and CEO, Larry Young. “With plans that are stronger than ever in 2012, I am confident that we will continue to execute our focused strategy and deliver strong shareholder returns.”
DPSG said it expects to report full-year net sales growth in 2012 near the low end of its long-term 3% to 5% range and diluted EPS in the $2.90 to $2.98 range, excluding the impact of commodity mark-to-market gains and losses.
Packaging and ingredient costs are expected to increase between 2% and 3%, the company said.
Click here to view the earnings release.
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