PepsiCo reaffirms long-term earnings forecasts

[March 22, 2010]  NEW YORK (AP) -- PepsiCo Inc. maintained its forecast for long-term earnings growth as it looks to increase overseas revenue.

The world's second-biggest food and beverage company said Monday that it still anticipates 2010 earnings growth of 11 percent to 13 percent and low-double-digit profit growth for 2011 and 2012. The forecast is on a core constant currency basis, which exclude certain items.

PepsiCo said it wants to boost its international revenue at two times the real global GDP growth rate. The Purchase, N.Y. company also wants to gain market share in its snacks and liquid refreshment beverage segments in the top 20 markets.

Food from PepsiCo's snack business, Frito-Lay, will be more closely marketed with its beverages now that the company owns its bottlers, Pepsi Bottling Group and PepsiAmericas.

PepsiCo plans to hold a two-day investor meeting at Yankee Stadium in New York starting Monday.

[Associated Press]

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