MEXICO: Coca-Cola Femsa records “strong” Q1

By just-drinks.com editorial team | 22 April 2010

Coca-Cola Femsa recorded "strong" Q1

Coca-Cola FEMSA has reported a healthy increase in first-quarter profits, boosted by a “strong” performance in the firm’s sparkling beverage portfolio.

Net profits for the three months to the end of March amounted to MXN2.23bn (US$182m), a 58.3% leap on 2009.

Total revenues increased 4.7% to reach MXN23.60bn.

Operating profit amounted to MXN3.52bn, a rise of 6.4% on the prior year.

"We continued to benefit from the strong performance of our sparkling beverage portfolio, supported by a 6% growth of brand Coca-Cola across our territories. The still beverage category, driven mainly by the Jugos del Valle line of juice-based beverages, grew significantly in our Latincentro and Mercosur divisions,” said CEO Carlos Salazar Lomelin.

Coca-Cola FEMSA is owned by the Mexican conglomerate FEMSA, which sold its beer business to Heineken earlier this year for a 20% stake in the Netherlands-based brewer.

To read the full results press release click here.