Pepsi 2015 Annual Report Download - page 85

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Table of Contents
68
Snacks volume grew 8%, reflecting double-digit growth in China and high-single-digit growth in India,
partially offset by a mid-single-digit decline in Thailand. Additionally, Australia experienced mid-single-
digit growth and the Middle East experienced high-single-digit growth.
Beverage volume grew 1%, driven by mid-single-digit growth in the Middle East and India and double-digit
growth in the Philippines, partially offset by a double-digit decline in China and a low-single-digit decline
in Pakistan.
Operating profit declined 14%, reflecting certain operating cost increases, including strategic initiatives, as
well as the impact of lapping the prior year refranchising of our Vietnam beverage business, which negatively
impacted operating performance by 12 percentage points and primarily reflected a one-time gain of $137
million. These impacts were partially offset by the net revenue growth and planned cost reductions across a
number of expense categories. The lapping of incremental investments into our business in the prior year,
which positively contributed 4 percentage points to operating profit performance, was partially offset by
certain charges associated with productivity initiatives outside the scope of the 2014 and 2012 Productivity
Plans, which negatively impacted operating performance by 3 percentage points.
See Note 3 to our consolidated financial statements for additional information on “Other Productivity
Initiatives.”