February 28, 2020 / 12:27 AM / a month ago

Mexico's Alsea reports 150% jump in net profits for fourth quarter

MEXICO CITY, Feb 27 (Reuters) - Mexican restaurant operator Alsea on Thursday reported net profit of 456.3 million pesos ($24.2 million) in the fourth quarter of 2019, a jump of almost 151% compared to the same quarter a year earlier.

The company, which operates franchises of coffee chain Starbucks in various markets worldwide, said its revenue in the October to December period was 15.4 billion pesos ($815 million).

In the fourth quarter of 2018, Alsea registered a net profit of 182.1 million pesos. ($1 = 18.8860 pesos at end of December) (Reporting by Stefanie Eschenbacher and Miguel Angel Gutierrez; Editing by Dave Graham)

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