PepsiCo surpassed its second quarter profit forecast thanks to higher soda and snack prices in North America. It also sold its minority stake in British bottling company Britvic.
Similar volumes
American PepsiCo’s second quarter turnover grew 2.1 % to 15.7 billion dollars (13.77 billion euro), entirely thanks to increased prices because its sales volumes were stable. It did manage to sell an additional 2 % in snacks, but sodas posted a 2 % loss, negating the snacks’ advances.
The company’s net profit did grow, from 2.01 billion dollars (1.75 billion euro) to 2.11 billion dollars (1.85 billion euro), partially thanks to increased turnover, but also because it sold British bottling company Britvic in May. As a result, it increased its full-year profit forecast, because it anticipates a lower impact from foreign exchange rates now.
“Our results for the second quarter were very much in line with our expectations and we remain on track to meet our 2017 financial goals”, CEO Indra Nooyi said.
