Panamerican Beverages is confident it will reach 2001 net incomes near the top of its US$110m-115m targets, a company statement said yesterday.

The company, which reported a US$10.5m operating loss last year, said it expects the turnaround despite worsening economic conditions in Latin America.

Volumes are expected to be up by 2%, cash operating profits to grow 8% and operating profits to leap 40-45%.

Full results will be announced for the full 2001 in mid-February.