US: Pepsi Bottling Group re-confirms earnings prediction

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The Pepsi Bottling Group has re-confirmed that it expects low single-digit operating profit growth in its full-year.

The PepsiCo bottling arm (PBG) said today (3 September) that earnings per share were likely to be US$2.30-$2.38 for the full-year, with sales growth in the mid-single digits.

It also predicted earnings per share of $1.02-$1.06 in the third quarter, representing comparable growth of 4-7% over the prior year.

Analyst group Standard & Poor's said last month that soft drinks bottlers in the US would continue to face tough cost pressures in the short-term.

PBG said it expected around 3% sales growth in the third quarter of 2008, although warned that worldwide volumes would likely decline, "reflecting soft economic conditions globally".


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