UPDATE 1-Mexico's Femsa reports lower first-quarter profit

miércoles 30 de abril de 2014 16:35 GYT
 

(Adds details on revenue, background on company)

MEXICO CITY, April 30 (Reuters) - Mexican retailer and bottler Femsa on Wednesday said its first-quarter profit fell 5 percent as its main bottling business Coke Femsa paid more on debt and its share of Heineken's profit was hurt by one-time charges.

The company, which operates convenience store chain Oxxo and co-owns Coke bottler Coca-Cola Femsa with the Coca Cola Co, reported a profit of 2.488 billion pesos ($190.5 million) in the three months to the end of March, compared to 2.613 billion pesos a year earlier.

A pickup in sales of still beverages including water and new Oxxo store openings helped revenue climb 14.3 percent to 64.228 billion pesos, the company said.

Femsa holds a 20 percent stake in Heineken, the world's third-largest brewer, after selling its beer business to the Dutch company in 2010. Heineken said its first-quarter profit fell to EUR143 million from EUR 227 million in the first quarter of 2013.

Femsa's bottling business Coke Femsa earlier on Wednesday also reported a lower first-quarter profit on higher debt costs.

($1 = 13.06 pesos at end March) (Reporting by Elinor Comlay; editing by Andrew Hay)