US: PBG Q3 sales up, profit just
Pepsi Bottling Group has posted a very slight rise in net profit for its third quarter.
The company said today (3 October) that net income for the three months to 9 September was up by 1% year-on-year, coming in at US$207m. Revenues for the quarter posted a healthier increase of 7.6% to US$3.46bn.
PBG credited the rises to an 8% lift in European case volumes. Sales in Mexico slid by 1% and rose by only 2% in the US and Canada.
"In the US and Canada, our broad portfolio of non-carbonated products fueled our growth, with Lipton Iced Teas, Starbucks Frappuccino and energy drinks leading the way," said Eric J. Foss, PBG president and CEO. "We were very pleased with the strong performance we saw in the non-measured channels.
"Our business in Europe delivered outstanding results in the third quarter, with volume and profit up significantly. In Mexico, our ongoing work in the area of revenue management is beginning to gain traction, with solid net revenue per case growth and notable profit improvement for the quarter."
For the full year, the company expects to generate worldwide volume growth of around 4%, with the US growing by around 3%.
PBG is the world's largest manufacturer, seller and distributor of Pepsi beverages with operations in the US, Canada, Greece, Mexico, Russia, Spain and Turkey.
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