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Dr Pepper Snapple's 2nd quarter profit soars 20%

By: Renzo Ruf, BMG

Second-quarter profits at Dr Pepper Snapple Group Inc. rose nearly 20 percent, the Texas-based soft drink maker said. It benefitted from a bottling deal with rival PepsiCo. and favorable foreign currency exchange rates.

Profits for the period ended June 30 were $183 million, or 74 cents a share, up from $158 million or 62 cents a year ago. Analysts were expecting profits of 69 cents a share, according to a report in The Dallas Morning News. In a statement, company president Larry Young warned that despite the gains, consumer confidence remains weak. Three of its “core 4” brands -- 7UP, A&W and Sunkist –- saw sales drop while the fourth, Canada Dry grew by double digits. Overall sales gained 2.6 percent to $1.52 billion, even as the amount of product sold gained only 1 percent. (bmg)