Excluding the exceptional charges, the company made a loss of $2m in the third quarter, representing 2 cents a share. Analysts had been forecasting a profit of 7 cents per share. In the third quarter last year, the company recorded a profit of $30.1m.
LATIN AMERICA: Panamco posts third quarter loss
Panamerican Beverages (Panamco), the largest soft drinks bottler in Latin America, posted an $84.7m loss for the third quarter as it took $82.7m in exceptional charges. The company has written down assets and cut jobs in response to deteriorating economic conditions in the region, notably in Venezuela.