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CHILE: Net profit up 9.5% at Andina

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The Chilean soft drinks bottler, Embotelladora Andina SA, posted a net profit for the first nine months of the current fiscal year on the back of a turnaround in its non-operating results. In contrast, the company's operating profit and sales both fell. Sales declined by 20.3% to CLP291.19 billion, while operating profit was down 33.8% at CLP24.24 billion.

Net profit increased by 9.5% from CLP22.73 billion to CLP24.90 billion in the nine-month period. The company said non-operating results rose from CLP7.94 billion to CLP9.79 billion.

In spite of difficult trading conditions in Latin America, Osvaldo Garay, Andina's chief financial officer, was upbeat about the future. "We successfully completed the restructuring of the Argentine operation and believe that it will continue to follow a positive trend, such as has been the case for the Brazilian operation," Garay said.


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