Acquisitions Help to Boost Pepsicio Profit
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Pepsico Inc. reported that its fourth-quarter earnings from continuing operations rose 11% as recent acquisitions helped fuel double-digit increases in profitability of its soft drink and restaurant businesses.
Pepsico reported that net income for the three months ended Dec. 27 rose to $116.6 million, compared to $89.3 million a year earlier. The 1985 period included a loss of $15.7 million from discontinued operations.
In the latest quarter, the Purchase, N.Y., company said its acquisition of Kentucky Fried Chicken on Oct. 1 helped boost restaurant earnings by 25% and sales by 67%. Pepsico also owns Pizza Hut and Taco Bell.
However, net income for the full year fell to $458 million from 1985’s $543.7 million, which included $123.6 million from discontinued operations.
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