Mubasher: PepsiCo on Tuesday announced that its profits in the second quarter of  2018 were bolstered by the sustained strength of its snack business.

The company’s operating profits grew 4% in the three-month period ended 16 June 2018, while they increased by 1% during the first half of 2018.

The core earnings per share (EPS) levelled up 8% to $1.61 in Q2-18, compared to $1.51 in the same period a year earlier, while EPS rose 6% year-on-year to $2.58 in the first half ended 16 June 2018.

PepsiCo’s snack subsidiary, Frito-Lay, thrived, after posting a 2% year-on-year net revenue growth in Q2-18, while its total sales grew 3% year-on-year in H1-18.

Moreover, the New York-headquartered company’s total revenues grew 2.4% to $ 16.09 billion in Q2-18, with a 3.2% year-on-year growth during the six-month period to $28.65 billion from $27.75 billion.

PepsiCo’s beverage business in North America has been struggling amid increasing competition from upstart brands and changing customer tastes.

Meanwhile, the company expects its full-year organic revenue to rise at least with 2.3%, with EPS of $5.70, excluding items, 9% higher than $5.23.

Moreover, total dividends to shareholders are set to approximate $5 billion.