PepsiCo, the maker of Pepsi soft drinks and Tropicana juices, has said its net profit for the first three months of this year was $1.14 billion, down 1.1% from a year earlier.
Its operating profit, excluding once-off items, came to 71 cents a share, above analysts' forecasts for 67 cents. Sales fell 1% to $8.26 billion.
PepsiCo also said it planned to pay $6 billion to obtain full control of two of its main bottling operations, Pepsi Bottling Group and PepsiAmericas.
The company, which also makes snack foods, is buying out minority interests in the two bottlers.
The acquisition, paid half in cash and half in PepsiCo shares, will ensure the company directly controls 80% of its North American sales and add more than $200m a year to pre-tax profits through greater efficiency and cost reductions.
