US: Q4 slows for Pepsi Bottling, but FY still up
Pepsi Bottling Group has posted a lift in full-year profit, despite slowing income in its final quarter.
The soft drinks bottler, which is the largest manufacturer, seller and distributor of Pepsi-Cola beverages, said yesterday (29 January) that net income for 2007 hit US$532m, up from $522m a year earlier. For the last three months of the year, however, net income fell to $81m from $133m in the corresponding quarter in 2006.
For the full-year, sales rose by 7% to $13.6bn, with operating income climbing to $1.07bn from $1.02bn in 2006.
In the fourth quarter, sales were up to $4.04bn from $3.76bn, while operating income slipped to $180m from $198m.
PBG highlighted a net after-tax charge of $11m due to restructuring charges, an asset disposal charge and tax items as impacting Q4 net income.
While sales volumes in the US in 2007 were flat, European volumes grew 4%, while in Mexico, volume declined by 2%. Net revenue per case, however, increased by 6% worldwide, with each of the company's geographic segments delivering rises.
Looking forward, PBG said it expects to achieve top-line growth in 2008 of about 6% to 7%. Operating profit in the year is expected to grow by between 4% and 6% for the year.
"We are confident that we have the right strategy in place to continue building on our proven track record of success," said PBG's president and CEO, Eric Foss. "With a clear plan for delivering profitable top-line growth in the US and Canada, a focus on fully leveraging the growth potential in Europe and particularly Russia, and a commitment to achieving sustainable profitability improvements in Mexico, we will be able to optimise our performance in 2008 and beyond."
Blamed for contributing to rising obesity, traditional carbonated soft drinks, notably colas, have suffered in recent years. But the sector has responded with a plethora of new, healthier drinks, many...
PepsiCo has been given the green light to go ahead with its acquisition of Lebedyansky in Russia...
The new warehouse, to add to the company's existing facilities, will cover 100,000sq ft and will have an automated storage and retrieval system....
The Pepsi Bottling Group has confirmed details of its latest dividend payment....
This week InBev and Anheuser continue to keep the pages ticking over on just-drinks. Amongst the other stories at the top of the most read pages were reports on C&C, an interview with Carlsberg's CEO ...
The Pepsi Bottling Group has posted a healthy lift in second quarter profits thanks to price rises in the three-month period....
Pepsi-Cola North America's senior chief marketing officer Cie Nicholson, has tended her resignation with the company....
Shares in major soft drinks producers fell yesterday (16 June) on concerns that serious flooding in the corn-growing region of the central US will increase the costs of high fructose corn syrup (HFCS)...
- How the can has a part to play in beer's future
- The Future of Cocktails - Consumer Trends
- What do US wholesalers think of spirits trends?
- Experienced hands hold firm at CCEP - Analysis
- Global water targets risk hiding local concerns
- Diageo Australia's commercial head to step down
- Diageo reveals revival plan for former factory
- William Grant sees 2015 sales, profits lift
- Stoli Group CEO Rob Cullins to step down
- Jose Cuervo applies to go public
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends