Net income for the fourth quarter at the US-based Latin American soft drinks bottler, Panamerican Beverages Inc. (Panamco), stood at US$17.55m, against US$26.35m in the fourth quarter of 2001. Earnings per share for the quarter fell from 21 cents to 15 cents.
Panamco said the fourth quarter results were adversely affected by the general strike in Venezuela which began in December 2002.
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For the full year, net income stood at US$33.24, down from US$118.02m last year. The company said the 2002 figure included various facilities and exceptional charges, and a one-time gain. It said excluding these items net income stood at US$76.6m. Net sales for the year totalled US$2.36 billion, against US$2.63 billion in 2001.
