The group’s growth target for annual earnings per share is 13% to 14% and PepsiCo said it expects to hold that rate through 2003. However, after that the company expects growth in earnings per share to be in the “low double digits.” Revenue growth, once projected at 7%, is expected to be slightly above annual volume growth of 4% to 5%.
US: PepsiCo reduces long-term earnings forecasts
Shares in US food and drinks group, PepsiCo, hit a two-year low on Friday after it announced its second quarter results and issued revised long-term profit forecasts.