US: PepsiCo drinks volumes rise but profits dip in Q2
- Half-year group net profits increase by 3.3% to US$3.21bn
- Sales in six months to 14 June flat at $29.52bn
- Operating profits in H1 lift by 3.9% to $4.70bn
- Q2 net profits slip by 2% to $1.98bn
- Sales in three months to 14 June inch up by 0.5% to $16.90bn
- Operating profits in Q2 up by 1% to $2.90bn
- Group beverage volumes in Q2 increase by 1%
PepsiCo released its Q2 and H1 results earlier today
PepsiCo has reported a 1% lift in beverage volumes in its second quarter, although net profits in the three-month period fell slightly.
“Despite operating in what continues to be a challenging and volatile macro environment, we are delivering consistent, strong results. Based on the strength of our year-to-date results and our outlook for the remainder of the year, we’re increasing our full-year, core constant currency EPS growth target to 8%.” - chairman & CEO Indra Nooyi
"The company now expects 8% (an increase from the company’s previous target of 7%) core constant currency EPS growth in fiscal 2014 versus its fiscal 2013 core EPS of $4.37.
"Excluding the impact of structural changes and foreign exchange translation, organic revenue in 2014 is expected to grow mid-single digits versus 2013."
For the company's official statement, click here.
To read an exclusive two-part interview with PepsiCo's chief scientific officer, click here.
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