PepsiCo announces 15% rise in earnings
soaring earnings for the last quarter across all its businesses.
Steve Reinemund, chief...
US snacks and soft drinks group, PepsiCo, announced on Monday soaring earnings for the last quarter across all its businesses. Steve Reinemund, chief operating officer, said: "2000 was Pepsi's best [year] in recent memory, and the strongest I've seen in my 16 years with the company." Pepsico, which two months ago agreed a $13bn bid for Quaker Oats, stated that on a comparable basis, excluding the impact of an extra week in the fourth quarter of 2000, net income rose 15 per cent to $567m. Earnings per share for the quarter also increased 15 per cent, to 38 cents, on an 8 per cent growth in sales to $6.1bn. For the full year, comparable net income rose 16 per cent to $2.1bn, as net sales grew by 8 per cent to $20.1bn. Source: Financial Times
