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MEXICO: Pepsi-Gemex sees first quarter gains

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The largest Pepsi bottler outside of the US, Pepsi-Gemex, has seen a rise in its first quarter net profits to Peso233.1m (US$24.9m) compared to Peso187.1m for the same period a year before. Sales reached Peso2.66 billion up from Peso2.47 billion.

Pepsi-Gemex said in a statement that organic growth and higher margins contributed to the improved results, despite weakness in the economy.
 
Net sales in the quarter rose 8% to Peso2.66 billion, while operating profit rose 10.9% to Peso295.3 million. Earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 5.5% to MXN438 million.

The strength of the peso against the dollar contributed to a MXN39 million financing gain during the quarter, in which the company's net profit rose 24.6% to MXN233.1 million, or MXN0.45 per CPO share.

"Through strong management, we continue to expand our margins and achieve organic growth in a difficult global economic environment," said Enrique C. Molina chairman of the board of Pepsi-Gemex.

Molina continued: "Our leading brands and total focus on our goals of increased profitability and enhanced cash flow served to strengthen Pepsi-Gemex's position as a leader in the Mexican beverage marketplace."


Companies: PepsiCo

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