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MONTERREY, Mexico, July 23 (Reuters) - Coca-Cola Femsa, Latin America’s biggest Coke bottler, on Thursday reported that second-quarter profit fell 0.4 percent compared to the same period in 2014, dragged down by weak growth in sales volumes and foreign exchange effects in Venezuela.
The company, a joint venture between Coca-Cola Co and Mexico’s Femsa, said profit in the April-June period was 2.668 billion pesos ($170 million), compared to 2.679 billion pesos a year earlier.
Revenue declined by 11.8 percent to 36.550 billion pesos from 41.434 billion pesos in 2014. Excluding its operations in Venezuela and acquisitions, sales would have risen by 8.3 percent, the company said.
Coca-Cola Femsa, which operates in Mexico, Central America, Colombia, Brazil, Argentina, Venezuela and the Philippines, said its sales volume grew by 0.1 percent during the quarter.
Earnings before interest, taxes, depreciation and amortization, or EBITDA, declined 10.4 percent to 7.39 billion pesos from the second quarter of 2014, the company said.
The company has been trying to offset declining Coke sales by increasing sales of juices, water and other drinks.
$1 = 15.695 pesos at end June Reporting by Gabriela Lopez; Editing by Meredith Mazzilli