Pepsi growth keeps bubbling
PepsiCo Inc reaffirmed its earnings growth forecast for 2010 yesterday, a day after the soft-drink giant said it would cut levels of salt, sugar and saturated fats in its top-selling products.
The company, which owns the Pepsi, Frito-Lay and Quaker brands, expects earnings per share to grow 11 to 13 per cent on a core constant currency basis for 2010 and continued to target low double-digit growth for 2011 and 2012.
"We are refreshing and growing our company to adapt to a changing environment and to evolving consumer needs," Indra Nooyi, PepsiCo chairman and chief executive officer, said.
"We are stepping up our science-based innovation to serve increasingly health-conscious consumers and develop products tailored to key cohort groups," he said.