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(Updates with details from the report)
MEXICO CITY, April 28 (Reuters) - Mexican bottling and retail company Femsa on Thursday reported a 4.3 percent fall in first-quarter profit, compared to the year-earlier period, dragged down by higher costs.
Femsa posted a net profit of 2.999 billion pesos ($173 million) in the January-March period, down from 3.135 billion pesos in the same quarter a year earlier.
The company, which operates the Oxxo chain of convenience stores, posted revenue of 85.9 billion pesos ($4.97 billion), a 31.7 percent increase from a year earlier.
However, the cost of sales rose by 38.4 percent to 54.7 billion pesos over the same period, the company said. ($1 = 17.29 pesos at end-March) (Reporting by Mexico City Newsroom; Editing by G Crosse and James Dalgleish)