(Source: Datamonitor)
Coca-Cola Femsa, which produces and distributes beverages of The Coca-Cola Company in Mexico, has reported that total revenues were MXN26 billion for the third quarter of 2009, an increase of 31.5% compared to the third quarter of 2008.
Consolidated operating income grew 24% to MXN3.96 billion for the third quarter of 2009, mainly driven by the operating income growth recorded in the company's Latincentro and Mercosur divisions, said Coca-Cola Femsa.
Consolidated net controlling income increased 70.4% to MXN2.13 billion, or MXN1.16 per share, for the third quarter of 2009, when compared to the corresponding period of 2008.
Carlos Lomelin, CEO of the company, said: "Our company achieved another quarter of strong top- and bottom-line results, with our revenues up more than 30% and our operating income and EBITDA up 24%. Along with price increases implemented across our territories, our results reflected the strong growth of sparkling beverages in Mexico and the growth of still beverages in all of our divisions.
"During the quarter, we continued the integration of the Brisa water business in our Colombian operation. We also continued to benefit from our broad offering of beverage categories, which have helped us to reach consumers even under difficult economic conditions."
A service of YellowBrix, Inc.
