PepsiCo sees high single-digit organic revenue growth in June quarter

Volumes declined in foods and it reporte low-single digit growth in beverages

PepsiCo witnessed high single-digit organic revenue growth and share gain in India across foods and beverages, but its volumes declined in foods and witnessed a low-single digit growth in beverages in the second quarter ended June 17.

In its release, the company said, "Our developing and emerging markets remained resilient and delivered double-digit organic revenue growth.” The management added, India and China delivered high-single digit organic revenue growth in the second quarter. In the AMESA region, PepsiCo said that its convenient foods unit volume declined 6 per cent in the quarter ended June 17, primarily reflecting a double-digit decline in South Africa, which was partially offset by double-digit growth in the Middle East and mid-single-digit growth in Pakistan. It added that India experienced a mid-single-digit decline.In the 24 weeks ended June 17, its convenient food volume in AMESA declined 7 per cent and India witnessed mid-single-digit decline.

Its beverage volume also declined 3 per cent in the second quarter, which reflected a double-digit decline in Pakistan and a mid-single digit decline in Nigeria. It also said that it was partially offset by low-single digit growth in the Middle East and India. 

However, its beverage volume grew 2 per cent in the 24 weeks ended June 17 primarily reflecting double-digit growth in India and mid-single-digit growth in the Middle East.

On a year-to-date basis, the management said, “Year-to-date, we gained savory snack share in many of our international markets, including China, India, Saudi Arabia, Turkey, the Netherlands, South Africa, Belgium, and Pakistan, and for beverages, we gained market share in Mexico, Brazil, Turkey, India, Egypt, and Nigeria.”