PepsiCo has reported a 2% drop in profit for the second quarter to $1.66bn (£1bn), as North American consumers cut back on purchases of soft drinks.
The company saw sales decline 3%, but overall results beat analyst expectations due to growth in its international business.
Indra Nooyi, the group’s chief executive, said that the company was positioning itself for growth in developing markets like China, India and Russia, as well as improving business in North America.
To save costs, PepsiCo has been trying to acquire its two biggest bottlers since April, but Pepsi Bottling Group and PepsiAmericas rejected the $6bn deal saying it undervalued them.
