UPDATE 1-Mexico's Femsa's 2nd-qtr profit jumps 28 pct on retail unit
(Adds details on results)
MEXICO CITY, July 23 (Reuters) - Mexican retailer and bottling company Femsa on Thursday said its second-quarter profit rose 28 percent, driven by growth in its retail division which now includes a new venture into gasoline stations.
The company, which co-owns Coke bottler Coca-Cola Femsa and operates the Oxxo chain of convenience stores, reported a profit of 3.872 billion pesos ($247 million), compared to 3.018 billion pesos in the same quarter a year earlier.
Revenue grew 6 percent to 75.12 billion pesos.
In its retail division, sales increased by 31.4 percent as the company incorporated its new Oxxo gas operations and 258 net new Oxxo stores.
Femsa said earlier this year it would pursue aggressive growth in retail gasoline by buying gas station franchises of Mexican state oil company Pemex, which it said a sweeping energy reform finalized last year now allows.
The reforms will gradually liberalize the retail gasoline sector in Mexico, allowing the creation of gas stations without Pemex branding and the sale of gasoline not purchased from the country's long-time monopoly supplier.
Earlier on Thursday, Coca-Cola Femsa reported flat second-quarter results, as growth in Mexico was offset by foreign exchange effects in Venezuela and weakness in Brazil. ($1 = 15.695 Mexican pesos end-March) (Reporting by Christine Murray, editing by G Crosse)
© Thomson Reuters 2016 All rights reserved.