PepsiCo adjusts sales guidance
Food and beverage giant PepsiCo has reduced the top end of its revenue and profit forecasts as it invests more money into business improvements “that will support improved growth and profitability in 2010 and beyond”.
“For example,” the company said, “PepsiCo is making infrastructure investments in developing markets, such as China, to drive increased penetration and distribution of both carbonated and non-carbonated beverages. It has also increased investments in differentiated science-based R&D to accelerate the company’s health and wellness transformation.”
For fiscal 2009 PepsiCo expects constant currency net revenue to be up about five per cent. The company also expects division operating profit to increase about six to seven per cent. PepsiCo had previously said growth rates would be in the mid-high single digits.
The company has not yet received regulatory or shareholder approval for the acquisitions of their two largest bottlers or resolved all competition concerns, they added. However, they are still confident the deals will proceed, providing them with greater control over the supply chain.
Author: Brent Moore, Australian trade commissioner and consul at the Australian Consulate-General i...
The French government has banned food service providers from offering free soft drink refills.
Nestle has confirmed it has sold its US confectionery business to Ferrero for US $2.8 billion (AUD $...
A new UK study has found home cooked baby food is not necessarily superior to store bought options.
Nexba, Australia’s leading naturally sugar free beverage brand, has announced the release of a conv...
"The more times you can use the oil without compromising the quality increases its value for money....
A centre dedicated to researching and fighting childhood obesity in children aged 0-5 years has open...
Mars Food says it will be changing its foods to make them healthier for consumers.