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UPDATE 1-Russia's Wimm-Bill-Dann 9mth profit falls
December 23, 2010 / 2:08 PM / in 7 years

UPDATE 1-Russia's Wimm-Bill-Dann 9mth profit falls

* Nine-month net income $92.7 mln vs $109.4 mln last year

* Q3 net income at $21 mln vs $44.5 mln a year ago

* Company set to be bought by PepsiCo

(Adds detail, Pepsi background)

MOSCOW, Dec 23 (Reuters) - Russian juice and dairy company Wimm-Bill-Dann WBD.N, set to be taken over by PepsiCo (PEP.N), said net profit fell during the first nine months of the year as milk prices soared during the hot summer.

The company said net income came in at $92.7 million, down from $109.4 million during the same period last year. Third-quarter earnings fell 52.7 percent to $21 million.

Revenue increased 18.8 percent to nearly $1.9 billion while third quarter sales were up 22.3 percent.

U.S. giant PepsiCo said earlier this month it would buy Wimm-Bill-Dann WBDF.MM for $3.8 billion -- one of the biggest every acquisitions by a foreign company in Russia -- as it looks to emerging markets for future growth. [ID:nLDE6B119G] (Reporting by John Bowker; editing by Maria Kiselyova)

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