PepsiCo reports 3Q 2008 results

PepsiCo has reported a net revenue growth of 11% that is driven by strong performance in PepsiCo Americas Foods.

Meanwhile, PepsiCo International’s (PI’s) diverse brand portfolio continued to enjoy growing demand across most markets outside the Americas, despite pricing actions across the board to cover commodity inflation.

Revenue grew 20% while operating profit grew 18%.

In the Middle East/Africa/Asia (MEAA) segment, snack volume growth of 9% was broad based, led by double-digit growth in the Middle East, China, and India.

The snacks business in Turkey grew high- single-digits, while Australia experienced a low-single-digit decline, primarily due to increased pricing.

Beverage volume increased 10%, driven by mid-teens growth in China and in the Middle East, and high-single-digit growth in India.

Growth was slightly offset by a low-single-digit decline in Pakistan, reflecting a challenging environment, and by a high-single-digit decline in Turkey.

Revenue grew 22% and operating profit was up 18%.

Foreign exchange and acquisitions contributed 5 percentage points to revenue growth and 4 percentage points to operating profit growth.