PepsiCo has assured the market that it can meet its profit forecasts for 2001 and that it is happy with its future growth targets of 13-14%.

In a statement released yesterday, PepsiCo said it had, "an excellent year and is comfortable with the current consensus earnings per share estimate of US$1.66 for 2001."

Steve Reinemund, chairman and chief executive officer said; "Our business generated strong, healthy growth throughout 2001, which enabled us to deliver our targets and to reinvest in the business to ensure that growth continues into the future.

"Looking ahead, we are very excited about the prospects for PepsiCo, and we are comfortable that we will achieve our ongoing target of 13-14% annual growth in earnings per share."