US snack and soft drink giant PepsiCo has lowered its sales and earnings outlook for the full year as it steps up investments in driving growth and profits.
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The company yesterday (8 December) lowered the top-end of its guidance ranges, with net revenue expected to rise by about 5% and earnings per share expected to rise by between 5% and 6%, on a constant currency basis.
PepsiCo had previously said that it expects 2009 net revenue and EPS to rise in at a mid-to-high single-digit range.
The maker of Quaker and Frito-Lay said that it still anticipates fiscal 2010 EPS growth of 11-13% on a constant currency basis, excluding one-off items.
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By GlobalData
