USA: PepsiCo reports Q3 sales increase
PepsiCo, the beverage & snacks company, has reported its Q3 results, posting an increase of 3.1% in organic revenues with beverages and snacks increasing by 1%.
Chairman and CEO Indra Nooyi said: "We delivered good third quarter results in the face of an ongoing challenged macroeconomic environment driven by increasing volatility in the emerging markets and continued sluggish consumer demand in developed markets".
Ms Nooyi continued: “Our organic revenue grew three percent and we achieved positive effective net pricing through strong price/pack revenue management. Together with our relentless focus on productivity, this translated to both gross margin and operating margin expansion”.
"We achieved these results because our brands are strong, our product portfolio is on-trend, our geographic footprint is broad and diverse, and we are executing well in the marketplace”, she added. "Based on the strength of our year-to-date results and our outlook for the remainder of the year, we are raising our full year, core constant currency EPS growth target to nine percent”.