Dr Pepper Profit Up 3 Percent On Price Hikes
NEW YORK (AP) – Dr Pepper Snapple Group Inc. says that higher prices for its portfolio of sodas, teas and juices helped raise its second-quarter net income by 3 percent.
The Fort Worth-based beverage company, which makes 7Up, Sunkist and Mott’s, said Thursday it lifted prices by 4 percent overall during the period. That offset a 1 percent dip in sales volume and the negative impact of a stronger dollar.
Sales volume of carbonated soft drinks was flat, with the company’s 10-calorie drink — Dr Pepper Ten — offsetting declines in Sun Drop and 7Up.
For the three months ended June 30, the company said it earned $178 million, or 83 cents per share. That’s compared with $172 million, or 77 cents per share, in the same period last year.
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