 "Soft Drink")
Soft Drink. (Representative Image: Shuttershock)
Calling India a “big growth market”, beverage major PepsiCo said it witnessed high-single-digit growth in the country in the second quarter ended June 15.
“In the AMESA region, India is a big growth market for us. We are putting infrastructure and investing on the ground for the brands. It is a high-demand market for us for many, many years to come,” Jamie Caulfield, executive vice president and chief financial officer, told investors in a post-earnings call.
In its release, the company’s management said, “Developing and emerging markets such as Egypt and Poland each delivered double-digit organic revenue growth, India and Brazil delivered high-single-digit growth, Thailand, and Pakistan each delivered mid-single-digit growth.”
In the AMESA region, PepsiCo said its convenient foods unit volume grew 1 per cent in the second quarter, primarily reflecting double-digit growth in India and low-single-digit growth in South Africa, partially offset by a double-digit decline in the Middle East and a low-single-digit decline in Pakistan.
In the 24 weeks ended June 15, its convenient foods unit volume grew 2 per cent, primarily reflecting double-digit growth in India and low-single-digit growth in South Africa, partially offset by a double-digit decline in the Middle East. Additionally, Pakistan experienced slight growth.
Its beverage unit volume grew 2 per cent in the second quarter, primarily reflecting double-digit growth in India, partially offset by a high-single-digit decline in Pakistan, a low-single-digit decline in the Middle East, and a mid-single-digit decline in Nigeria.
In the 24 weeks ended June 15, too, beverage unit volume grew 2 per cent, primarily reflecting double-digit growth in India, partially offset by a double-digit decline in Pakistan and a low-single-digit decline in Nigeria.
On a year-to-date basis, the beverage major said, “Year-to-date, we held or gained savoury snack share in China, India, Brazil, Australia, and Pakistan, and for beverages, we held or gained share in Australia, South Korea, China, Thailand, Pakistan, Egypt, Vietnam, Saudi Arabia, the UK, and Brazil.”
First Published: Jul 11 2024 | 8:11 PM IST
