PepsiCo's quarterly profit surges 41.6%

[BENGALURU] PepsiCo Inc reported a 41.6 per cent jump in quarterly profit, helped by higher demand for its healthier drinks and snacks and as the company kept a tight leash on costs.

Net income attributable to PepsiCo rose to US$1.32 billion, or 91 cents per share, in the first quarter ended March 25 from US$931 million, or 64 cents per share, a year earlier.

The company recorded a US$373 million charge related to its transaction with Tingyi (Cayman Islands) Holding Corp in the year-earlier period.

Revenue rose 1.6 per cent to US$12.05 billion, the second quarter of rising sales after eight quarters of decline.

PepsiCo and other processed-food makers are investing heavily to develop products to meet the changing tastes of consumers, who are increasingly seeking healthier options.

REUTERS