PepsiCo revenue rises 5% on demand for healthy drinks, snacks
[BENGALURU] PepsiCo Inc reported a five per cent rise in quarterly revenue on Wednesday, as the company benefited from higher demand for its healthier beverages and snacks in North America.
However, net income attributable to PepsiCo fell to US$1.40 billion, or 97 US cents per share, in the fourth quarter ended Dec 31, from US$1.72 billion, or US$1.17 per share, a year earlier.
The fall in net income was due to pension-related settlements and a debt redemption charge in the latest quarter and a tax benefit in the year-ago period.
The company's net revenue rose to US$19.52 billion from US$18.59 billion.
PepsiCo and other processed-food companies are investing heavily to develop products to meet the changing tastes of consumers, who are increasingly seeking healthier options.
PepsiCo has said it now gets about 45 per cent of its net revenue from "guilt-free" products - beverages that have fewer than 70 calories per 12 ounces and snacks that have lower amounts of salt and saturated fat.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue