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Monday, 5 February, 2001, 22:17 GMT
Pepsi releases strong results
A woman chooses between Pepsi and Coca Cola
Pepsi is optimistic about the year ahead
PepsiCo released a 15% rise in fourth-quarter profits and is confident that 2001 will see double-digit earnings growth.

The soft-drink and snacks giant said that it earned $567m in the quarter, an increase on $494m a year earlier.

The earnings figures matched analyst expectations and Pepsi shares rose 16 cents to close at $45 on the New York Stock Exchange.

"PepsiCo delivered another solid quarter and capped an outstanding year," said chairman and chief executive, Roger Enrico.

"Our sharp focus on convenient food and beverages is paying off and we expect consistently healthy results to continue throughout 2001," he added.

Strong growth for Frito-Lay

The company reported strong growth in its Frito-Lay snack products group both in North America and internationally.

It attributed this to core products as well as new flavours, such as Nacho Cheesier Doritos and Four Cheese Doritos.

Pepsi results
15% rise in Q4 profits
Net income of $576m for Q4
Net income of $2.1bn

Net sales grew by 8% to $6.1bn for the quarter, while division operating profit rose 12% to $984m.

For the full year, net income grew 16% to over $2.1bn, net sales advanced 8% to $20.1bn and total division operating profits grew 13% to $3.5bn.

In December, PepsiCo announced plans to buy Chicago-based Quaker Oats, known for its oatmeal and Gatorade sports drinks.

The deal is expected to close sometime during the second quarter.

The company's products include Pepsi soft drinks, Doritos snack chips and Tropicana juices.

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See also:

04 Dec 00 | Business
Pepsi wins Quaker Oats battle
04 Oct 00 | Business
Pepsi profits fizz
21 Jul 00 | Entertainment
Robbie's Pepsi challenge
21 Jul 98 | The Company File
Fresh juice for Pepsi
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