New Delhi: Global food and beverage major PepsiCo on Thursday reported double-digit growth in beverage volumes in India in the second quarter of calendar year 2024, leading to an overall increase of 2 per cent. in the Africa, Middle East and South Asia region. .
The company also said the volume of its convenient food unit grew double digits in India in the April-June period.
"Beverage unit volume grew 2 percent (in Africa, Middle East and South Asia - AMESA region), 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," PepsiCo said in a regulatory filing.
Additionally, the company said volume for its convenient foods unit grew 1 percent at AMESA in the quarter, primarily reflecting double-digit growth in India and single-digit growth in South Africa, partially offset by a decline in double digits in the Middle East. and a single-digit decline in Pakistan.
"During the second quarter, developing and emerging markets such as Egypt and Poland each recorded double-digit organic revenue growth, India and Brazil recorded high single-digit growth, Thailand and Pakistan each recorded single-digit growth. mid-single digit, while Mexico and South Africa recorded single-digit growth," the company states in its earnings report.
International developed markets, such as Australia and the United Kingdom, each generated low single-digit organic revenue growth, it added.
"So far this year, we have maintained or gained share in salty snacks in China, India, Brazil, Australia and Pakistan, and in beverages, we have maintained or gained share in Australia, South Korea, China, Thailand, Pakistan, Egypt and Vietnam ., Saudi Arabia, the United Kingdom and Brazil," the company added.
Overall, the company posted a marginal increase in net sales of $22.5 billion with attributable net income of $3.08 billion.
The company also said the volume of its convenient food unit grew double digits in India in the April-June period.
"Beverage unit volume grew 2 percent (in Africa, Middle East and South Asia - AMESA region), 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," PepsiCo said in a regulatory filing.
Additionally, the company said volume for its convenient foods unit grew 1 percent at AMESA in the quarter, primarily reflecting double-digit growth in India and single-digit growth in South Africa, partially offset by a decline in double digits in the Middle East. and a single-digit decline in Pakistan.
"During the second quarter, developing and emerging markets such as Egypt and Poland each recorded double-digit organic revenue growth, India and Brazil recorded high single-digit growth, Thailand and Pakistan each recorded single-digit growth. mid-single digit, while Mexico and South Africa recorded single-digit growth," the company states in its earnings report.
International developed markets, such as Australia and the United Kingdom, each generated low single-digit organic revenue growth, it added.
"So far this year, we have maintained or gained share in salty snacks in China, India, Brazil, Australia and Pakistan, and in beverages, we have maintained or gained share in Australia, South Korea, China, Thailand, Pakistan, Egypt and Vietnam ., Saudi Arabia, the United Kingdom and Brazil," the company added.
Overall, the company posted a marginal increase in net sales of $22.5 billion with attributable net income of $3.08 billion.
