Emerging Europe Pulls Down PepsiAmericas' Q3 Earnings

PepsiCo's second largest anchor bottler PepsiAmericas has reported below consensus third quarter (three months to end September) earnings largely on the back of US dollar strength and tough trading conditions in the US and Central and Eastern Europe (CEE). Group earnings slipped 13.1% year-on-year (y-o-y) to US$63.5mn while sales dipped 15% y-o-y to US$1.13bn. Expected to be bought out by PepsiCo by the end of 2009, PepsiAmericas has a strong presence in the CEE. Contributing about a quarter of the bottler's sales revenue, consumers are still reigning in spending as the region continues to be profoundly affected by the global

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