Global food and beverage giant PepsiCo announced a double-digit increase in beverage volumes in India for the quarter ended June, contributing to a 2% overall growth in the Africa, Middle East, and South Asia region.
The company also said volumes at its convenient foods unit experienced double-digit growth in India during the same period.
"Beverage unit volume grew 2% (in Africa, Middle East & South Asia - AMESA region), primarily reflecting double-digit growth in India, partially offset by a high-single-digit decline in Pakistan, a low-single-digit decline in the Middle East and a mid-single-digit decline in Nigeria," the company said in an exchange filing.
Additionally, the company reported that its convenient foods unit volume increased by 1% in the AMESA (Africa, Middle East and South Asia) region for the quarter. This was mainly due to significant double-digit growth in India and modest single-digit growth in South Africa, which was somewhat counterbalanced by a substantial double-digit decrease in the Middle East and a slight single-digit drop in Pakistan.
"For the second quarter, developing and emerging markets such as Egypt and Poland each delivered double-digit organic revenue growth, India and Brazil delivered high-single-digit growth, Thailand, and Pakistan each delivered mid-single-digit growth while Mexico and South Africa delivered low-single-digit growth," the company in its earnings statement.
International developed markets such as Australia and the U.K. each delivered low-single-digit organic revenue growth, it added.
"Year-to-date, we held or gained savoury snack share in China, India, Brazil, Australia, and Pakistan, and for beverages, we held or gained share in Australia, South Korea, China, Thailand, Pakistan, Egypt, Vietnam, Saudi Arabia, the UK and Brazil," the company added.
Overall, the company posted a marginal rise in net sales at $22.5 billion with a net income attributable to it $3.08 billion.
(With Inputs From PTI)
RECOMMENDED FOR YOU
POPULAR