• Nine-month net profits rise by 21.2% to MXN8.92bn (US$688m) 
  • Net sales up by 23.6% to MXN106.2bn
  • Operating profits rise by 14.6% to MXN14.5bn
  • Group says its looks forward to "strong close of the year"
Coca-Cola FEMSA is confident  of it performance for the rest of the year

Coca-Cola FEMSA is confident of it performance for the rest of the year

Coca-Cola FEMSA has reported a healthy rise in nine-month profits helped by three acquisitions made in its domestic market of Mexico last year.

Net profits in the nine months to the end of September rose by 21.2% to MXN8.92bn (US$688m), the Coca-Cola bottler said today (24 October). Sales were up in the same period by 23.6% to MXN106.2bn.

Operating profits increased by 14.6% to MXN14.5bn in the YTD, a pick-up in performance on the group's first half.

In the third quarter, net profits saw a sharp jump - up 53% to MXN3.5bn - while sales rose by 20.3% to MXN36.2bn.

The group flagged double-digit sales growth in both of its divisions, as well as the integration of the three Mexican businesses it purchased last year - Grupo Fomento Queretano, Grupo Cimsa and Grupo Continental - as the reason for its performance.

Looking ahead, CEO Carlos Salazar Lomelin, said: "After facing a very tough commodity and volatile currency environment over the past several quarters, we look forward to a strong close of the year."

Shares in Coca-Cola FEMSA were up by 0.49% today at MXN172.29.

To read the company's full announcement, click here.