MEXICO: Coca-Cola FEMSA FY profits climb
By Michelle Russell | 28 February 2012
has reported an increase in full-year profits, despite a “challenging commodity cost environment”.
For the 12 months to the end of December, net profits climbed by 8.3% to MXN10.61bn (US$826.3m). Operating profits grew by 18% to MXN20.15bn, the Mexican soft drinks bottler said today (28 February).
Net sales in the period amounted to MXN124.71bn, a 20.5% increase on 2010.
In the fourth quarter, net profits climbed by 6.1% to MXN3.21bn, while operating profits grew by 27.9% to MXN6.50bn. Sales in the period amounted to MXN35.98bn, a 29.2% increase on the prior-year period.
Coca-Cola FEMSA said both its Mexico & Central America, and South America divisions achieved double-digit top- and bottom-line growth. The company added that it has now successfully integrated the beverage divisions of Grupo Tampico and Grupo CIMSA, which it acquired last year, “quickly and efficiently” into its Mexican operations.
“As we enter the year 2012, together, we will leverage our mutual strengths to continue creating the flexibility to transform challenges into opportunities to deliver increased value for our shareholders now and into the future," said Coca-Cola FEMSA's CEO, Carlos Salazar Lomelin.
Click here to view the full earnings release.