NEW YORK - Snacks and drinks company PepsiCo says its profit rose nine per cent in the second quarter on strong international growth that was further boosted by the weak dollar.

The company also said it would buy back an additional US$1 billion in shares this year, increasing its total share repurchase plan to $5.3 billion for 2008. PepsiCo had spent $2.9 billion on buybacks by the end of the quarter.

PepsiCo Inc. says its profit for the three-month period ending June 14 was $1.7 billion, or $1.05 a share, compared with $1.56 billion, or 94 cents a share, during the same period last year.

Revenue of $10.95 billion for the quarter is up 14 per cent from the $9.61 billion reported by the Purchase, N.Y.-based company in the second quarter of 2007.

Excluding one-time items, the company earned $1.03 per share. Thomson Financial says analysts expected earnings of $1.02 per share on revenue of $10.55 billion.

PepsiCo also reaffirmed its full-year profit estimate to be at least $3.72 per share, excluding accounting-related items.

PepsiCo International, which includes snacks and beverages outside of North and Latin America, reported revenue rose 25 per cent. Snacks volume was 10 per cent higher and drinks volume rise 13 per cent.

The Americas snacks business reported a 16 per cent rise in revenue as volume rose 2 per cent, helped by price increases and double-digit volume gains in Cheetos, Ruffles, Quaker Chewy Granola and SunChips.

Weak sales of carbonated soft drinks hurt the company's Americas beverages unit, which posted one per cent revenue growth as volume fell by one per cent.

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