* Q2 profit 2.713 bln pesos vs 2.749 bln pesos
* Revenue up 28 pct, helped by acquisitions
MEXICO CITY, July 24 Mexico's Coca-Cola Femsa
on Tuesday said second-quarter profit fell 1.3 percent
from a year ago, hurt by higher debt costs and a one-time
charge, even as revenue soared.
Coke-Femsa, a joint venture of The Coca-Cola Co and
Mexican retailer Femsa, said second-quarter profit
slipped to 2.713 billion pesos ($203 million) from 2.749 billion
pesos in the year-earlier period.
The company went on a buying spree last year and its
purchase of smaller bottlers Grupo Tampico and Grupo Cimsa
helped boost sales.
Revenue rose 28 percent to 36.3 billion pesos.
Offsetting the higher sales, Coke Femsa said, was a one-time
charge of 469 million pesos in the quarter related to labor law
changes in Venezuela.
The company also spent more in the quarter servicing its
Coke Femsa shares closed down 0.47 percent at 164.76 pesos
in local market trading.
The company has continued looking for acquisitions this
year. Earlier this month it announced Jugos del Valle, its juice
company with Coca-Cola, bought Mexican dairy company Santa
Coke Femsa is also considering buying a controlling stake in
Coke's Philippine bottling operations. The company began what it
calls an "a n- the-ground evaluation process" o f this operation in
the second quarter, according to its results statement.