UPDATE 1-Dr Pepper Snapple profit up on price increases

Thu Jul 26, 2012 5:46pm IST

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July 26 (Reuters) - Dr Pepper Snapple Group Inc reported a higher second-quarter profit on Thursday and affirmed its full-year outlook, helped by price increases.

The maker of 7UP, Sunkist and other drinks said net income was $178 million, or 83 cents per share, up from $172 million, or 77 cents per share, a year earlier.

Excluding items, earnings were 85 cents per share.

Net sales rose to $1.62 billion from $1.58 billion.

The company stood by its full-year forecast, which calls for net sales growth near the low end of its long-term range of 3 to 5 percent and earnings per share of $2.90 to $2.98.

Higher packaging and ingredient prices should lead full-year costs to increase 2 percent, the company said.

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