PepsiCo income up 2% in year

by Staff
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PURCHASE, N.Y. — Income for PepsiCo, Inc. was up 2% during 2011 on gains in worldwide snacks and beverages, the Wimm-Bill-Dann acquisition, gains from sales of certain businesses and an extra reporting week.

For the year ended Dec. 31, 2011, the company had income of $6,443 million, equal to $4.03 per share on the common stock, up 2% from $6,320 million, or $3.91 per share, during the pervious year. Revenue for the year was $66,504 million, up 15% from $57,838 million during the previous year.

“In 2011, we delivered solid top- and bottom-line growth,” said Indra Nooyi, chairman and chief executive officer. “We continued to stimulate strong consumer demand for our products, and our successful pricing and productivity programs partially offset the impacts of inflation. Importantly, in a year characterized by a challenging macroeconomic environment and political turbulence, we took advantage of gains from strategic adjustments to our portfolio to reinvest in key capabilities and markets.

“At the same time, we improved our long-term competitiveness in key emerging and developing markets through our acquisition of Wimm-Bill-Dann, which further strengthened our position in Russia, pursuing new franchise models for our beverage operations in Mexico and China as we look to create more-advantaged businesses in these important markets, and our acquisition of Mabel which extended our macrosnack position in Brazil.”

During the year, Frito-Lay North America had operating profit of $3,621 million, up 7% from $3,376 million during the previous year. The segment had revenue of $13,322 million, up 6% from $12,573 million during the previous year.

Quaker Foods North America had operating profit of $797 million, up 8% from $741 million during the previous year. Revenue for the segment was $2,656 million, the same as the previous year.
Operating profit within PepsiCo Americas Beverages was $3,273 million, up 18% from $2,776 million during fiscal 2010. Revenue was $22,418 million, up 10% from $20,401 million during the previous year.

During the fourth quarter the company as a whole had income of $1,415 million, or 89c per share, up 4% from $1,365 million, or 85c per share, during the same quarter of the previous year. The company had revenue of $20,158 million, up 11% from $18,155 million during the same quarter of the previous year.

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