Business News
Pepsi profits slip in Q2
Jul 22, 2009, 12:44 GMT
New York - US soft drink company PepsiCo achieved net profit of just under 1.67 billion dollars in the second quarter, down slightly from 1.71 billion dollars in the year-earlier period, the company reported Wednesday.
The Purchase, New York-based company said the earnings came on sales turnover of 10.59 billion dollars, down 3 per cent from the second quarter of 2008.
In looking ahead, the company said it expected both earnings per share as well as sales to show mid- to upper-range single digit growth.
PepsiCo's report comes a day after the world's largest soft drink concern, Coca-Cola, reported a second-quarter profit rise of 43 per cent, to 2 billion dollars. Coca-Cola cited strong cost savings in the rise, as sales revenues dropped 9 per cent to 8.3 billion dollars.
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