• Q1 like-for-like net profits up by 3.9% to US$106m
  • Net sales in 2012 edge up by 1% to $1.38bn
  • Operating profits increase by 2.6%, hitting $197m
  • Volume sales slip by 2%
DPSG released its Q1 results today

DPSG released its Q1 results today

Dr Pepper Snapple Group (DPSG) has posted a slight rise in first-quarter profits and sales as price hikes offset a volumes drop, the company said today (24 April).

Net profits increased by 3.9% to US$106m in the three months to the end of March, the Texas-based company said today (24 April). Net sales edged up by 1% to $1.38bn over the same period while operating profits increased by 2.6% to $197m.

DPSG president & CEO Larry Young said that despite “continued category headwinds”, tough economic conditions in the US and cold weather through the quarter, the company “remained solid”.

“I remain confident that we will deliver our commitments for the year,” Young said.

Bottle case volumes for Dr Pepper Ten, launched in October 2011, were down as Dr Pepper volumes fell by 3%, DPSG said.

In non-carbonated drinks, Hawaiian Punch volumes dropped by 14% and Snapple fell 2%. Overall, CSDs fell by 2% in volumes while NCDs fell by 4%.

There was better news in Latin America, where the group posted a 1% sales volumes rise and a 9% net sales increase.

Looking ahead, DPSG said it will invest $30m in brands over the year, while cost of goods is expected to increase by 2% due to higher packaging and ingredient prices.

DPSG shares were up by 2.5% in morning trading.

To read the company's official statement, click here.