Pepsi Bottling Group income up significantly in year
February 2, 2010
SOMERS, N.Y. — Productivity improvements helped boost income for The Pepsi Bottling Group, Inc. significantly during 2009.
For the year ended Dec. 26, the company had income of $612 million, equal to $2.84 per share on the common stock, up from $162 million, or 75c per share, during fiscal 2008. Revenue for the year was $13,219 million, down 4% from $13,796 million during fiscal 2008.
“At the beginning of 2009, we expressed optimism that P.B.G. would continue to perform well in the marketplace despite ongoing macroeconomic challenges,” said Eric Foss, chairman and chief executive officer. “Our ability to achieve our full-year targets demonstrates that our optimism was justified as we executed our game plan effectively and delivered a strong set of financial results. Progress in several key areas helped contribute to our success throughout the year. We continued to strengthen our brand portfolio. We maintained a relentless focus on operational excellence, and we enhanced our geographic portfolio in the U.S. and abroad.”
For the fourth quarter ended Dec. 26 the company had income of $90 million, or 41c per share, which compared with a loss of $271 million during the same quarter of the previous year. Revenue for the quarter was $3,805 million, down slightly from $3,809 million during the same quarter of the previous year.