The Mexican brewer and soft drinks bottler, Femsa, has posted a second-quarter net profit of MXN721m (US$69m), down 14.5% from the corresponding quarter last year.
The result also came in below analysts’ forecasts. A recent Reuters poll forecast a net profit of MXN1.079 billion.
Femsa’s sales revenues increased by 36.1% to MXN19.125 billion, boosted by a two-month contribution from Panamerican Beverages (Panamco) which Femsa’s soft drinks division, Coca-Cola Femsa, acquired in May. But the turnover figure was also below expectations, with the Reuters poll of analysts predicting turnover of MXN19.432 billion.
However, the company’s operating profit rose by 17% to MXN3.328 billion, ahead of analysts’ forecasts of MXN3.284 billion.
