PepsiCo sales led by India

PepsiCo today reported that volume, revenue and profit growth for the fourth quarter and the full year of 2010 were driven by gains across its worldwide snacks and beverage businesses, and from the acquisitions of its anchor bottlers earlier in the year.

Beverage performance for the quarter was led by high double-digit growth in India, single-digit growth in West Asia and nine per cent growth in China. For the full year, beverage volume was led by double-digit growth in India and China.

The net revenue grew by 34 per cent, net income rose by six per cent and core constant currency net income rose by 15 per cent. PepsiCo said, “Our snack and beverage volume gains for the quarter and full year were led by strong performance in key emerging markets. The Middle East, India and China, each reported snack volumes growing by strong double digits, and acquisitions contributed two points of snacks volume growth in the quarter and for the full year.”

The company gained one CSD (carbonated soft drinks) share point in China, and gained relative share versus its closest competitor in India in the most recent quarter. The company further strengthened its position in India through the formation of a joint venture with Tata Global Beverages to develop and market hydration beverages for the India market. Full-year operating profit was negatively impacted by the lapping of the gain from the formation of a joint venture with Calbee in Japan in the third quarter of 2009, as well as from marketplace investment spending.