PepsiCo has reported first-quarter 2009 results that reflected solid top- and bottom-line performance on a constant currency basis. The company delivered 6 per cent constant currency net revenue growth. The company’s first-quarter constant currency core earning per share (EPS) grew 8 per cent, reflecting strong net revenue management, product innovation and cost discipline. Reported EPS grew 3 per cent and reported net revenue declined 1 per cent.
Indra Nooyi, PepsiCo chairman and chief executive officer, said: “I am pleased with PepsiCo’s overall performance in the quarter. Our portfolio breadth, geographic reach and operating agility enabled us to deliver strong performance in a challenging global macroeconomic environment. Worldwide, our teams adapted their operating models – from refreshing our beverage lineup, to devising new value initiatives, to enhancing revenue management and expanding Power of One initiatives.”
Nooyi continued, “In addition to meeting our near-term financial commitments, we are focused on delivering growth over the long term by continuing our investments in brand building, innovation and supply-chain transformation. In spite of the economic slowdown, all of our businesses are performing at or above expectations, which gives me confidence in reaffirming our full-year guidance.”
— IndiaRetailing Bureau