PepsiCo: posts higher operating profit
(CercleFinance.com) - PepsiCo posted higher quarterly operating profit on Thursday, helped by the acquisition of SodaStream in Europe and strong demand for its Frito-Lay snacks in the Americas.
The world's second largest soft drinks maker, behind Coca-Cola, posted an operating profit of 2.7 billion dollars for the last three months of 2019, up 12.5% from 2.4 billion dollars the previous year.
Its revenue rose by 5.7% to 20.6 billion dollars, based on 4.3% organic growth.
PepsiCo said that it is "pleased" with the performance, having met or exceeded each of the full-year targets that it provided at the start of 2019.
The company also announced a 7% increase in its annualized dividend, to 4.09 dollars per share.
For 2020, Pepsi said it expects to deliver 4% organic revenue growth.
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