Pepsi posts rising revenues

PepsiCo reported a higher-than-expected quarterly profit yesterday, helped by increases in sales volume and prices, and gave a 2013 forecast consistent with its ongoing turnaround plan. The American drinks and snacks maker posted net income of $1.66bn (£1.07bn), up 17 per cent on a year ago and beating Wall Street forecasts. Net revenue fell one per cent to $19.95bn, though organic sales growth came in at five per cent.