UPDATE 3-PepsiCo benefits from cost cuts, strong N America snack sales

lunes 18 de abril de 2016 12:03 GYT
 

* 1st-qtr N America snack sales up 3 pct

* Adjusted profit $0.89/share vs est. $0.81

* Cost of sales fall 6.4 pct (Adds details from conference call, graphic link; updates shares)

By Yashaswini Swamynathan

April 18 (Reuters) - PepsiCo Inc reported a better-than-expected quarterly profit as it trimmed costs and demand rose in North America for its snacks, which include Cheetos and Lay's chips.

The company's shares rose as much as 0.8 percent to $104.59 in morning trading on Monday.

PepsiCo has handled sliding demand for fizzy sodas better than rival Coca-Cola Co as its snacks business has offset much of the impact of a shift in consumer tastes to teas, fruit juices and smoothies.

The maker of Tropicana juices is also trying to attract health-conscious consumers with snacks such as Smartfoods Delight popcorn and gluten-free Quaker oats.

Sales in its North America snacks business, which accounts for over a quarter of total revenue, rose 3 percent in the first quarter ended March 19.   Continuación...