April 29, 2014 / 11:20 PM / in 4 years

Mexican restaurant operator Alsea says 1st-qtr profit up 33 pct

MEXICO CITY, April 29 (Reuters) - Mexican restaurant operator Alsea, which runs Starbucks, Domino’s Pizza and Burger King chains among others, on Tuesday said its first-quarter profit rose 33 percent, helped by strong revenue growth despite a new junk food tax.

The company reported a profit of 86.8 million pesos (US$6.4 million) in the January-March period, compared with a profit of 65.1 million pesos in the same period a year earlier.

Alsea said revenue rose 17.5 percent to 3.992 billion pesos.

The company is seeking to raise about 4 billion pesos to complete its purchase of Vips, the restaurant division of Wal-Mart de Mexico, which is still pending regulatory approval.

Alsea shares closed up 0.74 percent at 46.57 pesos on Tuesday, before the company reported its results.

$1 = 13.06 pesos at end March Reporting by Elinor Comlay

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