US: Dr Pepper Snapple Group records nine-month profits rise
- Nine-month net profits increase by 5.8% to US$440m
- Operating profits drop by 0.5% to $753m
- Net sales edge climb by 5.2% to $4.44bn
- Third-quarter net profits rise by 6.9% to $154m
Dr Pepper Snapple Group's nine-month net profits increased by 5.8%
Dr Pepper Snapple Group (DPSG) has posted a 5.8% increase in nine-month net profits to US$154m for the period to the end of September.
The increase, the company said today (26 October), was driven by a Coca-Cola Co licensing agreement and supply chain productivity, offset by higher packaging and ingredient costs.
Operating profit in the period drop slightly, by 0.5% to $753m, while net sales increased by 5.2% to reach $4.44bn.
For the third-quarter, net profits climbed by 6.9% to $154m, while operating profits edged up by 0.4% to $261m. Sales in the period reached $1.53bn, a 4.8% increase on the prior-year period.
"As we continue to operate in challenging times, I remain pleased with the performance of our portfolio,” said DPSG's CEO, Larry Young. “Our rapid continuous improvement efforts are gaining traction across the organisation, and we're beginning to experience meaningful results."
The company said it expects full-year net sales to increase by 3% to 5% and diluted earnings per share to be in the range of $2.70 to $2.78.
Click here to view the earnings release.
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