Mexican Coke bottler Arca reports higher first-quarter profit
MEXICO CITY, April 30 (Reuters) - Mexican Coke bottler Arca Continental on Wednesday said its first-quarter profit rose 7 percent as it trimmed sales costs to offset a slight drop in revenue.
Arca, one of the world's biggest bottlers of The Coca-Cola Co drinks, reported a profit of 1.162 billion pesos ($89 million) for the January-March period, compared to a profit of 1.09 billion pesos in the same period a year earlier.
The company said sales volumes fell 2.9 percent but higher prices helped revenue fall just 0.04 percent to 13.37 billion pesos from 13.375 billion pesos in the first quarter last year.
Mexico approved a 1 peso-per-liter tax last year on sugary drinks and an 8 percent tax on junk food as part of a wider tax overhaul that took effect at the start of this year.
Mexicans are the world's biggest consumers of soda, drinking an average of 707 8-ounce (0.24 liter) servings per person each year, according to U.S. newsletter Beverage Digest. ($1 = 13.06 pesos at end March) (Reporting by Elinor Comlay; Editing by Bernadette Baum)
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