Coca-Cola Femsa''s profit grows 30% in the quarter

Mexican Coca-Cola Femsa, the largest Coca-Cola bottler in the world, reported a high of 30.3% in net income for the third quarter, reaching 2.051 billion Mexican pesos (US $ 110.4 million). The result was associated with the growth in sales volume, with market share gains in most of the countries in which the company operates, and to readjust prices of drinks.
"We strengthen even more our presence in Brazil with the agreement to acquire the Vonpar. This franchise is strategically important for distribution in southern Brazil and allows us to serve more than 88 million consumers, reinforcing our leadership position in the Coca-Cola system in one of the largest markets for Coca-Cola products in the world, "said in a report the President of the company, John Santa Maria.
Net sales in the period rose 5.6 percent to 39.826 billion Mexican pesos ($ 2.14 billion), mainly due to the increase in prices in Latin America and by the increase in the volume of sales in Mexico and Central America.
In volume, however, the company''s sales showed a fall of 1.9% compared to the third quarter of last year, totaling 789,200,000 boxes. The portfolio of soft drinks had 1.2% drop, with mainly in Brazil, Argentina retraction and Colombia.
Operating expenses grew 31.2% in the period, to 13.195 billion Mexican pesos. Gross profit increased 2.3% to 18.157 billion Mexican pesos. The operating profit rose 6.6 percent to 5.656 billion Mexican pesos.