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UPDATE 1-Mexico's Coke Femsa reports lower third-quarter profit
October 24, 2013 / 12:53 PM / in 4 years

UPDATE 1-Mexico's Coke Femsa reports lower third-quarter profit

MEXICO CITY, Oct 24 (Reuters) - Latin America’s biggest Coke bottler, Coca-Cola Femsa, said on Thursday third-quarter profit fell 17 percent despite higher revenue as it spent more on marketing as well as labor and freight costs.

The company , a joint venture between Coca-Cola Co and Mexican retailer Femsa, reported profit of 2.954 billion pesos ($225 million) for the July-September period, down from 3.543 billion pesos in the same period a year earlier.

Operating income fell 7.7 percent to 5.063 billion pesos, hurt by higher labor and freight costs in South America and continued marketing investments.

Revenue rose 3.6 percent to 37.5 billion pesos.

Sales volumes were up 4.7 percent in the quarter, helped by Coke Femsa’s expanding line of non-carbonated beverages including juices, Powerade and Fuze Tea, as well as bottled water.

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