• PepsiCo Americas Beverage H1 net sales up 1% to US$9.7bn
  • Operating profits up 6% to $1.37bn
  • Q2 net sales up 1% to $5.34bn
  • Operating profits up 4% to $903m
  • Overall PepsiCo net profits flat, sales decline
PepsiCo saw overall H1 sales fall

PepsiCo saw overall H1 sales fall

PepsiCo's Americas beverages unit has posted an increase in first-half sales and profits despite an overall slump for the snacks and drinks maker.

The unit, which PepsiCo yesterday said will change its name from PepsiCo Americas Beverages to North America Beverages, saw net sales edge up by 1% to US$9.7bn in the six months to 13 June. Operating profits were up by 6% to $1.37bn in the same period.

The company said the unit was "positively impacted" by productivity gains and lower commodity costs.

The results for the unit, which accounts for about one-third of PepsiCo's overall sales, failed to offset declines elsewhere. For the first six months of the year, PepsiCo reported net income of $3.2bn, compared with $3.19bn last year. Operating profit for the half year decreased to $4.69bn from $4.7bn a year earlier, while net sales fell 5% to US$28.14bn.

Despite the declines, PepsiCo lifted its forecast for underlying annual earnings. The Pepsi and Tropicana owner said it expects its core constant-currency earnings per share to rise 8% this year, up from a previous forecast of 7%.

PepsiCo's share price on the New York Stock Exchange was relatively flat as of 0946.

To read the company's full results, click here.