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CHILE: Bottled water boosts Embotelladora Andina H1 sales

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Strong demand for bottled water has helped Chilean drinks bottler Embotelladora Andina to a 15% rise in sales for the first half of 2010.

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Bottled water volume sales jumped by more than 45% for the six months to the end of June, compared to the same period of 2009, Andina said yesterday (28 July).

The rise, together with solid volume gains in beer and juice drinks, helped the Chile-based bottler to a 15% increase in net sales for the half-year, to CLP421.5bn (US$810m) versus CLP367.2bn a year earlier.

"I am pleased with Andina’s good performance during the quarter, despite the significant price increases of our main raw materials," said company CEO, Jaime García.

Higher raw materials costs failed to dent operating profits, which rose by 22% to CLP68.9bn for the six months, said the firm, which is one of the largest Coca-Cola bottlers in the world.

Net profits increased by 6% to CLP48.7bn, versus CLP45.8bn a year earlier. The earnings increase came despite a 14% drop in profits in the second quarter, to CLP15.9bn from CLP18.6bn, due primarily to higher tax payments in Brazil. 

"We have managed to increase volume and value market shares in our three franchises," said García, adding: "We are confident and optimistic in our ability to execute the strategies planned for 2010.”

Andina operates in Chile, Brazil and Argentina.

For the full announcement, click here.


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