MEXICO: Coca-Cola FEMSA nine-month profits climb
- Nine-month net profits climb by 10.4% to MXN7.73bn (US$589.3m)
- Operating profits increase by 10% to MXN13.44bn
- Sales reach MXN86.44bn, a 10.4% increase on prior-year period
- Third-quarter net profits climb by 8.8% to MXN2.48bn
Coca-Cola FEMSA saw its profits climb in the first nine months of the year
Coca-Cola FEMSA has reported an increase in profits in the first nine months of 2011, driven by the firm's Mexico and Central America divisions.
For the nine months to the end of September, profits climbed by 10.4% to MXN7.73bn (US$589.3m). Operating profits increased by 10% to MXN13.44bn, with the company's Mexico and Central America divisions accounting for around 55% of this growth, the firm said yesterday (27 October).
Sales in the period amounted to MXN86.44bn, a 10.4% increase on the same period of last year.
In the third-quarter, net profits climbed by 8.8% to MXN2.48bn, while operating profits increased by 12.5% to reach MXN4.67bn. Sales amounted to MXN30.19bn, a 15.6% increase on the comparable period of last year.
"Despite increased global volatility, our company delivered strong results for the quarter," said Coca-Cola FEMSA's CEO, Carlos Lomelin. "Our operators' refined execution to serve and satisfy our consumers' preferences generated solid volume growth. This, combined with our strategy to selectively increase prices across our territories, produced double-digit top-line growth."
Click here to view the earnings release.
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