US: PepsiCo’s fourth-quarter profit tops analysts’ estimates | Progresiv

PepsiCo Inc., whose stable of brands includes beverages and the Frito-Lay snack division, posted fourth-quarter profit that topped analysts’ estimates even as currency headwinds eroded sales. Excluding some items, including the currency impact, profit was $1.12 a share in the period, the Purchase, New York-based company said in a statement.

PepsiCo generated organic sales growth of 5 per cent last quarter, helped by gains at its snack and beverage businesses. While currency fluctuations turned that increase into a 1 per cent drop, the results showed overlying strength at the company. It also pledged to return $8.5 billion to $9 billion to shareholders through dividends and share buybacks in 2015. (www.esmmagazine.com)