Dr Pepper Snapple income up 15% in year
Feb. 15, 2012
PLANO, TEXAS — Higher prices and strong performances of Dr Pepper TEN contributed to a 15% increase in income during 2011 for Dr Pepper Snapple Group.
For the year ended Dec. 31, the company had an income of $606 million, equal to $2.77 per share on the common stock, which compared with income of $528 million, or $2.19 per share, during fiscal 2010. Sales for the year were $5,903 million, up 5% from $5,636 million during the previous year.
“As I look back on a year of unprecedented commodity and retail price increases, I am pleased with the performance of our brands,” said Larry Young, president and chief executive officer. “Our national rollout of Dr Pepper TEN has been well received by our bottling partners, retailers and consumers and I am excited about the marketing plans we have in place in 2012 for this breakthrough product. Sun Drop is now the No. 2 brand in the citrus category, driving 43% of the growth in that category. Our tea and juice portfolios continued to outperform industry trends.”
For the fourth quarter ended Dec. 31, the company had income of $166 million, or 78c per share, up 48% from $112 million, or 49c per share, during the same quarter of the previous year. Sales for the quarter were $1,461 million, up 3% from $1,412 million.