Pepsico said that it still expects earnings per share to rise 7 per cent to 8 per cent this year and at a high-single digit rate beyond 2011, forecasts the company made in February.

The food and beverage maker also said that it expects 2011 revenue growth in line with its long-term goal of mid-single-digit revenue growth, on a 52-week, core constant currency basis and excluding the impact of the acquisition of Wimm-Bill-Dann Foods OJSC.

PepsiCo stood by its expectations as it prepared to speak at the Consumer Analyst Group Europe Conference in London today. The company cut its earnings growth targets in February, citing soaring commodity costs and uncertainty about when the economic recovery on paper would actually be felt by consumers.

Reuters