Tuesday, 23 October 2018

 

PepsiCo has announced its third quarter 2018 (which ended September 8) financial results, revealing an important growth for the company, while Frito-Lay North America has also recorded a high operating profit. Pepsico CEO Indra Nooyi left the giant company posting a stronger-than-expected quarterly profit on her last day on the job.

Reported net revenue increased 1.5%, while foreign exchange translation had a 2-percentage point unfavorable impact on reported net revenue growth. Organic revenue, which excludes the impacts of foreign exchange translation and acquisitions, structural and other changes, grew 4.9%, according to the report.

Frito-Lay North America operating profit increased 3.5%, primarily reflecting the net revenue growth and planned cost reductions across a number of expense categories, partially offset by certain operating cost increases.

“We are pleased with our results for the third quarter. We continued to see a very strong operating performance from our international divisions, propelled by developing and emerging markets; Frito-Lay North America generated solid net revenue and operating profit growth; and North America Beverages delivered another quarter of sequential improvement in top-line performance. On the strength of our year-to-date results, we have revised upward our full-year organic revenue growth target. Additionally, given the recent strengthening in the U.S. dollar we have revised our full-year core earnings per share target to reflect our updated expectation of an approximate 1 percentage point headwind from foreign exchange translation,” said Chair and CEO Indra Nooyi.

Related articles: 

PepsiCo Is Planning to Build New Potato Processing Plant in India 

PepsiCo Former CEO Selected as Asia Society's Game Changer of the Year 

Ramon Laguarta Elected Chief Executive Officer of PepsiCo 



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