October 28, 2016 / 1:27 PM / 2 years ago

UPDATE 1-Mexico's Femsa reports 34.5 pct rise in net profit in 3rd qtr

(Adds revenue, background, detail)

MEXICO CITY, Oct 28 (Reuters) - Mexican bottler and retailer Fomento Economico Mexicano (Femsa)said on Friday its third-quarter profit rose 34.5 percent from the year earlier, helped by growth in its retail division and foreign exchange gains.

Femsa’s net profit reached 6.691 billion pesos ($345 million) in the July-to-September period, up from 4.974 billion last year.

Total revenue grew 27.4 percent to 100.325 billion pesos. In its retail division, revenue rose 12.3 percent, with Oxxo same-store sales climbing 5.7 percent.

The company recorded foreign exchange gains of 147 million pesos in the period, compared with a 1.027 billion peso loss last year.

Mexican retail sales rose for the fourth straight month in August, according to data this week.

Coca-Cola Femsa, the largest Coke bottler in the world, on Tuesday reported a 13.9 percent rise in third-quarter profit, helped by fewer foreign exchange losses, lower taxes, and higher prices to consumers.

Femsa said last month it would buy Brazilian beverage company Vonpar in a cash, stock and debt deal valued at 3.5 billion reais ($1.09 billion). ($1 = 19.382 Mexican pesos) (Reporting by Gabriela Lopez and Alexandra Alper; Editing by Jeffrey Benkoe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below