UPDATE 1-Mexico's Coke Femsa profit slips on declining drink sales
(Adds details on revenue, sales volume)
MEXICO CITY, April 29 (Reuters) - Coca-Cola Femsa, Latin America's largest Coke bottler, on Wednesday reported that first-quarter profit fell 5 percent as it sold less of the carbonated drink and other beverages across the region.
Profit fell to 2.194 billion pesos ($144 million) from 2.310 billion pesos in the first quarter of last year.
Revenue dropped 11.2 percent to 34.37 billion pesos. The company said revenue would have increased 3.2 percent from the same period last year, excluding foreign-exchange fluctuations from Venezuela business.
Still, Coke Femsa sold less drinks compared to the year-earlier quarter, particularly in Mexico and Brazil, and total sales volume dipped 1 percent.
A bright spot was the pickup in sales of bottled water. Sales of water in large volumes, as well as other still beverages, also slowed.
The company has been trying to offset declining Coke sales by increasing sales of juices, water and other drinks. ($1 = 15.2610 pesos at end March) (Reporting by Elinor Comlay; Editing by Jeffrey Benkoe)
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