* Q4 profit 363 mln pesos vs 201 mln pesos yr earlier
* Revenue up 2.7 pct to 11.6 bln pesos
MEXICO CITY Feb 27 Retailer Comercial Mexicana
on Wednesday said its fourth-quarter profit soared,
helped by lower debt payments and a slight increase in sales.
The company, known locally as Comerci, said fourth-quarter
profit climbed 81 percent to 363 million pesos ($28.2 million)
in the October-December period, up from 201 million pesos in the
same period a year earlier.
Fourth-quarter revenue rose 2.7 percent to 11.6 billion
pesos from 11.3 billion pesos a year earlier.
Comerci paid just 107 million pesos in interest on debt in
the fourth quarter, compared to 429 million pesos in the fourth
quarter last year.
Last November, the company said it arranged a 2.5 billion
pesos ($192 million) syndicated loan to pay down debt related to
a restructuring deal negotiated in 2010.
Comerci, which operates the upscale City Market grocery
stores as well as discount stores and restaurants, agreed to the
debt restructuring deal with creditors in 2010 after heavy
losses on currency derivatives led it to default on obligations
in late 2008.
Comerci shares closed up 1.25 percent at 45.45 pesos before
it reported results.