The Chilean drinks bottler Andina suffered a 65% fall in first half net profits, compared to the same period last year. The company blamed economic and currency weakness at its Brazilian operation.
The Coke bottler reported first-half 2003 net profit of 7.467 billion pesos, down from 21.417 billion pesos a year ago.
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Meanwhile, operating profit fell 17.7% in the period to 14.924 billion pesos.
Andina, which operates in Chile, Argentina and Brazil, said sales volumes rose 3% in the period, but were pulled back by a 4% fall in Brazil. The company said this “explained partly by the increases in prices due to inflation and due to the sharp depreciation of the Brazilian real.”
Revenues in January-June 2003 were down 4.8% to 193.347 billion pesos from a year earlier.
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