Pepsi bottling profit fizzes

Pepsi Bottling Group reported a slightly-better-than-expected quarterly profit yesterday, but revenue fell short of Wall Street estimates, hurt by lower volume in the United States, Canada and Europe. Pepsi Bottling said net income rose to $254m (£160m), or $1.14 per share, in the third quarter, from $231m, or $1.06 per share, a year earlier. Net revenue dropped nearly five per cent to $3.63bn, falling short of analysts’ average expectation for $3.73bn. Total sales by volume fell two per cent.