PepsiCo has forecast net revenue and volume growth after reporting a strong set of full-year results for 2005.

The US drinks giant said today (8 February) that net revenues were up 11% during 2005, on the back of a 7% increase in volumes.

PepsiCo's full-year figures were boosted by a strong fourth quarter, which saw revenues leapt 15% and volumes rise 7%.

PepsiCo chairman and CEO Steve Reinemund said: "We're very pleased with the results for the quarter and for the full year. Our top line has shown consistently strong growth throughout the year, and earnings were strong despite a challenging input cost environment.

"Importantly, we've made investments in the marketplace and in productivity that, together with our top-line momentum, gives us confidence as we enter 2006."

PepsiCo's outlook for 2006 foresees mid-single-digit volume and net revenue growth, with revenue growth outpacing volume growth, and EPS of at least US$2.93 per share. Cash provided by operating activities in 2006 is expected to exceed US$6.2bn.

The company forecast spending of around US$2.2bn in net capital, and around $3bn in share repurchases. PepsiCo anticipates capital spending to return to the long-term targeted rate following 2006.