The Chilean soft drinks bottler, Andina, posted a strong increase in second-quarter profits thanks to cost-cutting measures aimed at offsetting adverse economic factors in Argentina and Brazil. Andina posted second-quarter profits of $7.1m, 189% higher than second-quarter profits of $2.5m last year.

Operating income in the second-quarter fell by 7.1% to $9.8m. Second-quarter EBITDA declined from $25.9m to $23.6m. The devaluation in the Argentinean peso resulted in a dramatic fall in turnover there, contributing to an overall sales decline of 17.4% to $125.2m.

The company, which bottles and distributes Coca-Cola products in Chile, Argentina and Brazil, also posted a first-half profit of $30.1m, 22% up on the first half in 2001.