PepsiCo reports double-digit growth for the first half of the year 2008

The US concern PepsiCo Inc. has reported double-digit sales and earnings growth for the first half of the year on the back of strong international growth. The US beverage and snack group booked a 14% rise in revenues to USD 19.3 bn for the six months to 14 June. Operating profit was up 11% to USD 3.7 bn.
PepsiCo saw profits in the UK and Europe jump 20% as higher snack volumes in Russia and Poland and price increases across the region boosted sales. Earnings from the company s Middle East, Africa and Asia division climbed 22% during the first half as higher snack volumes in India, South Africa and China drove increased sales.


PepsiCo also enjoyed growth from its North American food business, which still accounts for almost 40% of group sales and over 40% of operating profit. Frito-Lay North America saw operating profit rise 10% and revenue climb 15% during the first half as PepsiCo succeeded in increasing prices to offset higher cooking oil and fuel costs. Operating profit from Quaker Foods North America was up 5.5% on the back of a 6% rise in sales.