Mexico's FEMSA, which controls one of the largest Coca-Cola bottlers and a string of convenience store chains, posted an 11% increase in revenue in the first...
MEXICO CITY - Mexico's FEMSA, which controls one of the largest Coca-Cola bottlers and a string of convenience store chains, posted an 11% increase in revenue in the first quarter, boosted by growth across nearly all its business sectors .
Sales only fell at Femsa's pharmacy division, down 2.3%, where it had fewer stores and faced challenges across Latin America.The firm's adjusted earnings before interest, tax, depreciation and amortization, or core earnings, for the quarter rose 15% to 25.05 billion pesos. Femsa's net profits slid 93%, largely due to gains a year ago on the sale of its interest in beer maker Heineken. Femsa last year kicked off efforts to slim down to its core operations, shedding its stake in the Dutch beer giant as well as Jetro Restaurant Depot.
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