PepsiAmericas income up 20% in quarter

by FoodBusinessNews.net Staff
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MINNEAPOLIS — For the first quarter of 2008, PepsiAmericas posted a net income of $24.7 million, equal to 19c per share on the common stock, up 20% from $20.6 million, or 16c per share, during the same quarter of 2007.

Net sales for the quarter were $1,098.7 million, up 14% from $960.2 million during the same quarter of the previous year.

"First quarter was a continuation of those things that drove our success in 2007 with good execution across our diverse portfolio of markets," said Robert C. Pohlad, chairman and chief executive officer. "Central and Eastern Europe continued to drive our growth reflecting the significant opportunities in these developing and emerging beverage markets. Strong execution of our brand and channel initiatives drove European volumes up double digits reflecting growth across all strategies. In the U.S., we were able to partially offset lower volume with good execution on our pricing, innovation and productivity initiatives. The diversity of our markets and our ability to manage the challenges and maximize our opportunities continues to position us well for growth."

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