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CHILE: Embotelladora Andina hails Brazil for FY lift

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Embotelladora Andina has posted a slight lift in full-year net profit, on the back of a healthier climb in sales.

The Chile-based Coca-Cola bottler said late last week that net profit in 2007 rose by 2.2% on 2006, coming in at CLP81.60bn (US$164m). Sales in the year were up in volume terms by 6.3% to 441.3m unit cases, and in value terms by 8% to CLP636.69bn.

Operating profit for 2007, followed suit, climbing 13% to $232.4m.

"For the period to Dec. 31 2007 we had good results thanks to growing volumes, higher prices in real terms and positive macroeconomics," the company said.

Andina credited its Brazilian unit for driving sales volumes in the year.

Late last year, the company saw Carlos Lohmann, general manager and president of Brazilian subsidiary Rio de Janeiro Refrescos, stand down from his positions. Reasons for Lohmann's resignation were not disclosed. Lohmann was replaced by Ricardo Gehrke at the beginning of January.


Sectors: Soft drinks, Water

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