Dr Pepper Snapple Group (DPSG) will report results for its fiscal third quarter tomorrow (27 October). Here, just-drinks brings you highlights of the company’s news in the three months to the end of September.
- In September, DPSG secured agreement with the Retail, Wholesale and Department Store Union (RWDSU) in the US, bringing to an end a four-month strike at one of its facilities. The company and the union agreed on a new three-year labour contract for hourly workers at DPSG’s Mott’s production facility in Williamson, New York.
- Also last month, The US Food and Drug Administration ordered Dr Pepper Snapple Group to change the labels on its Canada Dry Sparkling Green Tea Ginger Ale after they were found to breach the law. The food safety watchdog said that the drink made nutritional claims based on antioxidants in green tea, which is not a recognised nutrient.
- In July, the soft drinks maker reiterated its full-year guidance, despite a drop in first-half profits. For the six months to the end of June, net profits slid to US$272m from $290m in the prior year. Operating profits also dropped, to $497m from $562m, while net sales edged up to $2.77bn from $2.74bn.
- Also in July, DPSG announced a repurchase of an additional $1bn of its common stock over the next three years. In total, the company has now authorised $2bn of share repurchases of which $1.45bn remains outstanding.
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