New Delhi Food and beverage company PepsiCo India Holdings Pvt. Ltd. reported double digit volume growth in its Beverages business during the three months ended 3rd September.
In the AMESA region, the maker of Lay’s Chips and Tropicana Juice said net revenue grew 4% in the period compared to a year ago. “Convenience food unit volume declined 2%, mainly reflecting high-single-digit declines in South Africa, partially double-digit growth in the Middle East and Pakistan and mid-single-digit growth in India. is offset by the increase of points. Beverages unit volume grew by 11%, mainly reflecting double-digit growth in India. Middle East experienced high single digit growth, Pakistan saw low single digit growth and Nigeria experienced mid single digit growth,” the company said in its third quarter and year-over-year earnings announcement on Wednesday. Told.
For the quarter, PepsiCo reported net revenue of $21.97 billion globally, which was ahead of analysts’ estimates. For 2022, it expects organic revenue growth of 12%. “We are very pleased with our third quarter results as our global business momentum continues to be strong. Looking at our year-over-year performance, we now expect our full-year organic revenue to increase 12% (previously 10%) and core constant currency earnings per share to grow 10% (previously 8%) .” and Chief Executive Officer, PepsiCo.
The company launched a premium range of chips under the Lay’s Gourmet brand in India.
The company’s many developing and emerging markets remained resilient, including China, South Africa, India, Egypt, Saudi Arabia, Pakistan, Vietnam and Poland, each of which delivered double-digit organic revenue growth, it said.
For the 36 weeks ended September 3, convenience food unit volume grew 5%, primarily on double-digit growth in the Middle East, India and Pakistan. Over the same period, beverage unit volume grew 17%.
catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & Live business News,