US: PBG reports lift in Q2
The Pepsi Bottling Group has posted a leap in profits for its second quarter.
The US-based bottler said today (10 July) that revenue in the second quarter of 2007 rose by 7% year-on-year, totalling US$3.4bn. Operating income grew by 10% and net income lifted to $162m compared to $148m for the same time last year.
While volumes in the US were flat, Canadian volumes rose by 3%. European volumes were up by 6%, driven by growth in CSDs and non-carbonated beverages in Russia. In Mexico, volumes were down by 3%.
PBG president and CEO Eric Foss said: "By executing our key strategic initiatives, we were able to deliver double-digit growth in earnings per share for the quarter. As a result, we are increasing our full-year 2007 EPS guidance range to US$2.02 to $2.07. Our focus continues to be on creating long-term value and growth for our shareholders."
In March, PBG announced that it has created a joint venture in Russia with PepsiCo. The division, which will be called PR Beverages, will be governed by a board of directors representing the two companies equally.
The Pepsi Bottling Group has raised its earnings and cashflow guidance for the current fiscal year....
The Pepsi Bottling Group has lined up the acquisition of a bottling company in New York....
Pepsi-Cola Products Philippines (PCPP) has confirmed plans to launch a share offering with a view to fund its expansion aspirations....
Investment bank Citigroup has raised its rating of Coca-Cola Enterprises to "buy" from "hold"....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- Pernod Ricard's FY Performance by Region, Brand
- just The Preview - Pernod Ricard's Q4 & FY
- US craft vodka puts squeeze on Pernod's Absolut
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- ASA bans Jägermeister TV ad
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory