MEXICO: Coca-Cola FEMSA YTD profits up 21%
- 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 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.
In the fourth part of Euromonitor's preview of 2013, alcoholic drinks analysts Spiros Malandrakis and Zsuzsa Szilagyi consider what the future holds for the world's brewers....
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- Chile's winemakers caught out by Brexit "disease"
- The just-drinks Analyst - 2017 forecasts
- What's coming up in beer in 2017? - Comment
- Diageo Australia names new commercial head
- Suntory sends staff to fat camp - report
- "Beer and weed are complements" - analyst
- Edrington readies Americas, GTR exec switches
- Pernod Ricard's Absolut Lime - NPD
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits
- Global gin insights - market forecasts, product innovation and consumer trends