PepsiCo's quarterly profit rises 5%

[BENGALURU] PepsiCo's second-quarter profit rose 5 per cent, helped by higher sales in its Frito-Lay North America business and the sale of its minority stake in British bottler Britvic Plc.

Revenue in PepsiCo's North America beverage business, the company's biggest, rose two per cent to US$5.24 billion in the quarter ended June 17, while volume sales were flat, the company said on Tuesday.

Revenue from its Frito-Lay North America business rose three per cent, while operating profit rose 6 per cent.

Net income attributable to PepsiCo rose to US$2.11 billion, or US$1.46 per share, from US$2.01 billion, or US$1.38 per share, a year earlier.

Excluding items, the company earned US$1.50 per share.

Revenue rose 2.1 per cent to US$15.71 billion.

REUTERS