PepsiCo India beverages volume jumps

In the AMESA region, the maker of Lay’s chips and Tropicana juices said net revenue rose 4% from the year-ago in the period. “Convenient foods unit volume declined 2%, primarily reflecting a high-single-digit decline in South Africa, partially offset by double-digit growth in the Middle East and Pakistan, and mid-single-digit growth in India. The beverages unit volume grew 11%, primarily reflecting double-digit growth in India. The Middle East experienced high single-digit growth, Pakistan saw low single-digit growth and Nigeria experienced mid single-digit growth,” the company said in its third-quarter and year-to-date earnings announcement on Wednesday.

For the quarter, PepsiCo reported net revenue of $21.97 billion globally, ahead of analyst estimates. For 2022, it expects organic revenue to increase 12%. “We are very pleased with our results for the third quarter as our global business momentum remains strong. Given our year-to-date performance, we now expect our full-year organic revenue to increase 12% (previously 10%) and core constant currency earnings per share to increase 10% (previously 8%),” said Ramon Laguarta, chairman and chief executive officer, PepsiCo.

The company launched a premium range of chips under Lay’s Gourmet brand in India.

Many of the company’s developing and emerging markets remained resilient, including China, South Africa, India, Egypt, Saudi Arabia, Pakistan, Vietnam, and Poland, each of which delivered double-digit organic revenue growth, it said.

For the 36 weeks ended 3 September, the convenient foods unit volume grew 5%, primarily on double-digit growth in the Middle East, India, and Pakistan. In the same period, the beverage unit volume grew 17%.