PepsiCo has posted a net income of $1.66bn in the fourth quarter (Q4) ended 29 December 2012, up 17%, compared to net income of $1.41bn for the same period in 2011.

The increase in net income was mainly due to higher prices for the company’s products, investments in marketing of important brands like Pepsi and Lay’s, and strong sales in Latin America and other emerging markets.

Organic revenue grew by 5% in the latest quarter compared to the organic revenue growth for the same period in 2011.

The increase in organic revenue was primarily due to balanced volume growth and effective net pricing.

Reported net revenue for the fourth quarter was down by 1% to $19.95bn from $20.15bn for the same period last year.

The decrease in reported net revenue was mainly due to impact of structural changes, refranchising in China and unfavorable foreign exchange translation.

PepsiCo chairman and CEO Indra Nooyi said they are well positioned in almost all growth categories and their portfolio is diversified with many iconic brands.

"Our recent brand-building initiatives and innovation across the portfolio, including Quaker Real Medleys, Gatorade Energy Chews, Pepsi Next and Doritos Locos Tacos, are translating into success in the marketplace," she added.

"We’re encouraged by the progress we’re making and expect performance in the coming year to be consistent with our long-term targets."