Healthier Brands Boost PepsiCo Q3 Profits

16 October 2006

PURCHASE, NEW YORK: Strong growth will continue under the leadership of PepsiCo's new ceo Indra Nooyi, she promised Thursday as she unveiled forecast-beating Q3 results and raised the company's full-year earnings guidance.

Nooyi, hitherto Pepsi's cfo, succeeded Steve Reinemund, who retired last week after helming the beverage and snack group during five of the most successful years in its history.

Total revenues rose 9% to $8.95 billion (€7.16bn; £4.82bn), while beverage and snack volumes increased 6% , driving up net profits to $1.48bn - at 88 cents a share marginally ahead of analysts' consensus forecast of 86 cents.

Predictably, the developing markets of Russia, Turkey, China, Argentina and the Middle East witnessed the strongest growth.

"We are very confident in our outlook for the balance of the year as all of our businesses are performing well," said Indian-born Nooyi.

Data sourced from Financial Times Online; additional content by WARC staff