PepsiCo has reported a modest increase in its overall sales in its second quarter, with overall net sales going up by 1% to $22.7bn.

The company performed ahead of expectations, achieving an earnings per share of $2.12, and saw its organic sales growth of 2.1% in its international division.

PepsiCo’s European division saw its revenue go up by 8% and achieved organic sales growth of 7%.

However, PepsiCo’s North American food and beverage division’s volume went down by 1% and 2%, respectively.

Ramon Laguarta, CEO of PepsiCo said: “We’re encouraged by the acceleration in our net revenue growth versus the previous quarter, with our businesses effectively navigating through a challenging environment.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

“Our international business momentum continued, while our North America businesses improved their execution and competitiveness in key subcategories and channels.

“As we look ahead, we will continue to build upon the successful expansion and growth of our international business and accelerate initiatives to improve our North America business performance. These initiatives include more portfolio innovation and cost optimisation activities that aim to stimulate growth and profitability.”

Moving forward, the company has predicted a modest outlook for the rest of the year, with a low-single-digit increase in its organic revenues, and projects that the constant currency EPS will be in line with the year prior.

In March, the food and drinks giant acquired soda brand Poppi for a deal worth £1.5bn to expand its portfolio. The international FMCG also ramped up its sustainability initiatives over the year at its production sites.