The Pepsi Bottling group has cut its first-quarter and full-year earnings blaming shortfalls in US volume and profit.

The group said it now expected first-quarter US volume to be down 5% to 6% and, consequently, worldwide volume dropping 3% to 4%.

Chairman and chief executive John Cahill said: “We remain confident in our plans for the remainder of the year with the bulk of our growth expected in the second half.”