Overall, the company reported an 8.8% jump in net revenue to $22.46 billion for the quarter ended 26 December, 2020
For the full year(ended 26 December, 2020), the food and beverage major reported double-digit unit volume decline in beverages in India
New Delhi: Food and beverage company PepsiCo Inc., on Thursday reported high single digit revenue growth in India, while its beverages business gained market share here, the company announced in its fourth quarter earnings.
"Our fourth quarter international growth featured double-digit organic revenue growth in Brazil, high-single digit growth in China, India, Australia and Germany, and mid-single digit growth in the UK and Russia," the company’s chairman and CEO, Ramon Laguarta, said in the company’s management remarks on Thursday.
The results at the maker of Lay’s chips and Tropicana juices were reported for the quarter ended 26 December 2020.
In the third quarter too, the company recorded high-single digit revenue growth in India.
In several markets it reported market share gains. In India, beverages benefitted from market share gains—after facing lockdown related disruptions during peak summers months.
"Our business momentum helped us gain savory share in many of our key snack markets, including Mexico, Brazil, China and Russia, and for beverages, we gained share in China, India, the U.K., Germany, Egypt and Thailand within the year," Laguarta said.
The company said many of its markets continue to face vastly different pandemic related impacts and uneven economic recoveries.
Overall, the company reported an 8.8% jump in net revenue to $22.46 billion for the quarter ended 26 December, 2020.
“Our global snacks and food business remained resilient throughout most of the year and our global beverage business accelerated and delivered a notable improvement in organic revenue growth during the fourth quarter," Laguarta said.
For the full year(ended 26 December, 2020), the food and beverage major reported double-digit unit volume decline in beverages in India; while its snacks business in the country witnessed low-single-digit volume growth, the company said.
This impacted beverage volumes in the Africa, the Middle East, and South Asia. “In the AMESA region beverage unit volume declined 5%, primarily reflecting a double-digit decline in India and a high-single- digit decline in Pakistan, partially offset by slight growth in the Middle East and low-single-digit growth in Nigeria," it said.
Laguarta said changes in consumer behavior driven by the covid-19 pandemic are likely to continue to vary across different markets and channels around the world.
However, the company remains hopeful that vaccination efforts will accelerate mobility.
“Broadly speaking, we assume that vaccination efforts will accelerate and that population mobility trends will gradually improve as consumers return to certain pre- pandemic behaviors by the second half of this year," he added.