Pepsi earnings bubble up 10% in Q2

Pepsi-Cola Products Philippines, Inc.'s (PCPPI) net income grew 10 percent year-on-year to P387.7 million in the second quarter, the company said Thursday.

In a filing with the Philippine Stock Exchange, PCPPI attributed the growth in earnings to higher sales volume in both carbonated and non-carbonated drinks segments. Net sales also rose 20.9 percent to P6.34 billion from P5.24 billion in the same period in 2012, as volume sales grew 25 percent.

The second quarter growth pushes the company's earnings for the first half of the year to P657.9 million, a 13.9-percent year-on-year improvement from P577.5 million. Net sales in the first half also rose 17.3 percent to P11.43 billion from P9.74 billion last year.

PCPPI is the exclusive bottler of PepsiCo beverages in the Philippines, manufacturing several brands including Pepsi-Cola, Mountain Dew, 7-Up, Mirinda, Mug, Gatorade, Tropicana and Lipton. Its lead shareholder is South Korean beverage company Lotte Chilsung. — BM, GMA News