MEXICO: Coca-Cola FEMSA set fair in healthy Q3
Coca-Cola FEMSA has posted a healthy rise in both sales and profits for its third quarter.
The Mexico-based Coca-Cola bottler, which is owned by Fomento Economico Mexicano (FEMSA) said earlier today (27 October) that net profits in the three months to the end of September came in 23.5% up on the corresponding period a year earlier, totalling MXN4.95bn (US$369.9m). Sales followed suit, climbing by 32% to MXN26.01bn, with volumes rising by 7.5%.
"Our results reflected the strong growth of sparkling beverages in Mexico and the growth of still beverages in all of our divisions," said company CEO Carlos Salazar Lomelin. "During the quarter, ... we continued to benefit from our broad offering of beverage categories, which have helped us to reach consumers even under difficult economic conditions.
"We have delivered growing results and value for our shareholders while building a total beverage platform that will positively position us to capture growth in the coming years."
For the year so far, net profits at Coca-Cola FEMSA are sitting 19% higher than a year earlier at MXN13.83bn, with sales 30% up at MXN73.36bn.
To read the full statement, click here.
The wave of major consolidation activity in the beer market over 2008 was followed by weakening volume growth in 2009 as the economic downturn put a dampener on bullish tactics. With the global beer l...
- No Home Comfort for TWE as Bids Collapse
- Treasury Wine Estates: Here I Go Again On My Own
- Bacardi Seeks Own History at Bombay Sapphire Home
- Will low-alcohol wines wither on the vine?
- Private-equity bids "over" - TWE head
- Diageo's Johnnie Walker hit by Travel Retail slump
- Carlsberg suspends production at Russian brewery
- Treasury Wine Estates pulls plug on takeover talks
- Anheuser-Busch InBev shuts fourth Russian brewery
- Mallya stays chairman at Diageo's United Spirits