US: PepsiAmericas opens 2007 with Q1 rises
PepsiAmericas has posted a set of Q1 results driven by higher volumes in the US and Central Europe.
The PepsiCo bottler said yesterday (24 April) that net income for the first three months of 2007 leapt by 46% year-on-year, reaching US$20.6m. The strong performance came on the back of a 13.2% rise in worldwide revenue to $960.2m. The company credited this to contributions from the acquisition territories of Romania and Moldova, and volume and pricing gains in both the US and Central Europe.
During the third quarter of 2006, PepsiAmericas completed the acquisition of bottling operations in Romania and distribution rights in Moldova.
In volume terms, worldwide volume was up by 10.6%, with constant territory volume up 1.9%. US volume increased 0.6% with existing markets in Central Europe growing 14%, partially offset by volume declines of 6.4% in the Caribbean, the company noted.
"Across our markets, our organisation delivered the strong results we expected," said PepsiAmericas' Chairman and CEO, Robert Pohlad. "Our overall operating results were driven by top-line strength in both the US and Central Europe. In the US, revenues grew 5%, reflecting net pricing gains of 3.9% that offset our cost of goods sold increases. In addition, we continued to show consistent growth in our non-carbonated beverages, which accounted for over 19% of the US volume mix in the quarter."
Revenues outside the US totalled over 20% of worldwide net revenues, Pohlad noted, with Central Europe delivering 38% revenue growth on a constant territory basis.
Moving forward, the company said its full-year EPS range of $1.33 to $1.37 remains unchanged.
Earlier this year, PepsiAmericas warned that raw material costs would be substantially higher this year, after expenses knocked full-year earnings in 2006. The bottler saw operating income in 2006 slip to $356m from $393.4m a year earlier.
Gatorade has entered into a licensing deal with golf superstar Tiger Woods to develop "Tiger-inspired" sports performance beverages for athletes at all levels....
Weight management drinks have grown 24% to 570m litres in 2006 across Western Europe, the US and Japan....
PepsiCo has reported a lift in both operating profit and sales for its third quarter....
Reed's has beefed up its management team with the appointment of a new CFO....
Pepsi Bottling Group has posted a rise in both sales and operating income for its third quarter....
Starbucks and PepsiCo have unveiled plans to expand their relationship beyond North America and into China....
Quilmes Industrial has finally submitted its delayed 20-F form for 2006....
The Coca-Cola Bottling Company has lodged a protest with the State of Illinois over the awarding of a drinks deal to PepsiAmericas in the state....
- Can craft breweries compete in lager arena?
- Remy Cointreau's Q1 performance by brand, region
- SABMiller's Q1 sales performance by region - Focus
- SABMiller's Q1 2017 results - Preview
- A snapshot of the UK spirits market - Focus
- New Hendrick's Gin would have to be "unusual"
- Brown-Forman takes distribution in Spain in-house
- Diageo appoints new Smirnoff head
- AB InBev halts VAIP incentive plan
- Suntory, Asahi settle court fight - report
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends