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MEXICO CITY, Oct 22 (Reuters) - Mexico’s Coca-Cola Femsa on Wednesday said its third-quarter profit climbed 13 percent on higher revenue, which was boosted by price hikes as well as a pickup in sales volume.
The company, Latin America’s biggest Coke bottler, reported a profit of 3.343 billion pesos ($249 million), up from 2.954 billion pesos in the year-earlier period.
Coke Femsa also saw a one-time boost from a Brazilian tax amnesty, which meant the company’s effective tax rate for the third quarter was 14.2 percent, compared to 34.7 percent in the year-earlier period.
Revenue rose 11 percent to 41.78 billion pesos, mostly thanks to acquisitions the company has made in Brazil, where it saw double-digit increases in sales volume.
$1 = 13.4235 pesos at end Sept Reporting by Elinor Comlay; Editing by Nick Zieminski