US: Dr Pepper Snapple Group sees volumes dip slow H1 numbers
- H1 net profits slip by 2.1% to US$280m
- Net sales for six months to end of June inch up by 2.4% to $2.98bn
- Operating profits stay flat at $492m
- Expects FY sales "near the low end of its long-term 3% to 5% range"
Dr Pepper Snapple Group posted its H1 results today
Dr Pepper Snapple Group has posted a slight fall in H1 net profits, as a slide in volumes dragged on performance.
The US-based soft drinks group said earlier today (26 July) that net profits in the six months to the end of June came in 2.1% down on the corresponding period a year earlier, at US$280m. While net sales posted a 2.4% lift, operating profits were flat.
For the second quarter, DPSG saw net profits rise by 3.5% to $178m, reversing the marked fall in profits in its first quarter of this year. Sales also improved, increasing by 2.5% to $1.62bn, while operating profits were up by 3.5% at $300m.
In volume terms, bottler case sales were down by 1% in the second quarter, with CSDs flat and non-CSDs sliding by 6%.
Nevertheless, president & CEO Larry Young professed himself “pleased with the continued performance of our ... brands".
Looking to the full year, DPSG said it expects sales to come in nearer the lower end of its long-term 3% to 5% growth range.
To read DPSG's full results statement, click here.
Check back later for coverage of DPSG's H1 conference call.
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