UPDATE 1-Mexico's FEMSA net up 25 pct; soft drinks strong

Wed Oct 28, 2009 9:44am EDT
 
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* Oxxo stores maintain strong expansion pace

* Beer volumes, sales rebound (Adds revenue, EBITDA, store, beer details)

MEXICO CITY, Oct 28 (Reuters) - Mexican brewer and bottler FEMSA posted a 25 percent jump in third-quarter net earnings on Wednesday, driven by strong results from its soft drinks unit.

FEMSA (FMX.N) (FMSAUBD.MX), one of the largest bottlers in Latin America, said its July-September net majority profit came in at 2.521 billion pesos ($187 million), compared with 2.020 billion pesos in the same period of the previous year.

Revenue rose 21 percent to 50.647 billion pesos on the back of a strong performance from its bottling unit, Coca-Cola FEMSA (KOF.N) (KOFL.MX), whose sales rose nearly 32 percent in the period.

Its Oxxo convenience store network continued expanding across Mexico at a fast pace, while volumes and sales at its beer unit, FEMSA Cerveza, recovered from the previous quarter.

Earnings before interest, tax, depreciation and amortization, or EBITDA, rose 25 percent year over year, to 9.805 billion pesos.

Results were mostly in line with analysts' expectations. ($1 = 13.5035 pesos as of end-Sept) (Reporting by Cyntia Barrera Diaz; editing by John Wallace)

 

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