Daily Archives: October 2, 2018

PepsiCo sees silver lining in Q3 despite being weighed by a strong dollar

PepsiCo said on Tuesday that third quarter profit grew 16% to $2.49bn showing signs of renewed consumer demand for its brands including its namesake cola and other beverages.

While the firm’s Frito-Lay North America snacks business did a lot of the heavy lifting with 3% sales growth in the third quarter, the company’s flagship North America Beverage unit came back to life with a 2% growth, helped by a strong marketing push, albeit at a cost as Operating Profit for the business unit declined by 11% as a result of the increased marketing spend as well as rising transportation and commodity costs.

PZ Cussons Nigeria posts first quarter loss as low consumer demand hurt sales

PZ Cussons Nigeria Plc, on Friday announced a net loss of N208 million for the first quarter of 2018/19 financial year ending on 31 August.

The consumer goods company which has a diverse product line that includes electricals, personal and homecare products, dairy brands under the Nutricima business line and others said that the loss came as a result of low patronage of its products due to subdued consumer disposable income. Net revenue fell by 14.3% to N15.9bn from N18.5bn in the same period in 2017.