(Reuters) - PepsiCo Inc’s PEP.N management and its board will extend their ongoing review of business plans for 2012 and beyond, the food and beverage maker said on Tuesday.
When the company reported quarterly results in October, it said it would host a conference call in early December to review its outlook, including its “game plan” for 2012 and its views on commodity costs, investments, productivity programs and foreign exchange.
The company said on Tuesday that it will update investors early next year instead.
“As we have been working through our planning for 2012, we have decided that it is appropriate to extend our ongoing review,” Chairman and Chief Executive Indra Nooyi said in a brief statement.
PepsiCo’s shares were up 30 cents, or 0.5 percent, to $62.80 in morning trading.
When it released third-quarter results on October 12, PepsiCo declined to give any specifics regarding its 2012 outlook, saying it was still too early, given the current volatility in financial markets and global economies.
PepsiCo also said at the time that it had considered breaking up the company and did not find that to be in the best interest of its shareholders.
Last week, PepsiCo said it will sell its interest in 24 soft drink bottlers in China to Hong Kong-listed Tingyi Holdings Corp (0322.HK), a move that should extend its distribution deeper into China.
PepsiCo, known for its flagship cola and Frito-Lay chips, is also expected to increase the amount of its portfolio that is comprised of healthier items. The company, whose other goods include Tropicana juices and Quaker oatmeal, has said it aims to more than double sales from healthier products to $30 billion by 2020.
Reporting by Jessica Wohl in Chicago and Martinne Geller in New York, editing by Gerald E. McCormick, Maureen Bavdek and Derek Caney