PepsiCo to step up science-based innovation

PepsiCo to step up science-based innovation

PepsiCo this morning (22 March) reaffirmed its earnings growth forecast for 2010 as it announced plans to “step up” innovation on healthier products during the year.

Speaking at a two-day investor meeting, the firm said it expects earnings per share to grow 11 to 13% on a core constant currency basis for 2010 and continues to target low double-digit growth for 2011 and 2012.

CFO Richard Goodman said: “We are well equipped to deliver on growth opportunities in both developed and developing markets, thanks to our proven operating culture, our brand-building expertise and our ability to share best practices, products and platforms across our many markets.”

PepsiCo announced several performance goals in a bid to drive top-line and bottom-line growth, which included growing international revenues at two times real global GDP growth rate, growing its savoury snacks and liquid refreshment beverage market share in the top 20 markets, and increase cash flow in proportion to net income growth over three year windows.

The firm also added that there were “many exciting growth opportunities” for the firm globally, that PepsiCo said it will leverage over the next several years.

"We are refreshing and growing our company to adapt to a changing environment and to evolving consumer needs,” said chairman and CEO Indra Nooyi. “We are stepping up our science-based innovation to serve increasingly health-conscious consumers and develop products tailored to key cohort groups, like women and boomers.”

PepsiCo today also unveiled a goal to provide access to “safe water” to around three million people in developing countries by 2015, to coincide with World Water Day.