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US: Dr Pepper Snapple records drop in H1 profits

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Dr Pepper Snapple Group has reiterated its full-year guidance, despite a drop in first-half profits.

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For the six months to the end of June, net profits slid to US$272m from $290m in the prior year, the firm said today (29 July).

Operating profits also dropped, to $497m from $562m, while net sales edged up to $2.77bn from $2.74bn.

Despite this, president and CEO Larry Young said the firm continues to expect full year net sales to increase by between 3% and 5% and diluted earnings per share to come in at between $2.29 and $2.37.

For the second quarter, net profits reached $183m compared to $158m, while operating profit rose to $310m from $297m in the prior year.

Net sales were also up, to $1.52bn from $1.48bn.

Click here to view the full earnings release and check back later for further insight into the firm’s results.


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