Femsa's Q2 profit jumps 65% on FX gains, World Cup-related sales
FMX•Second-quarter profit rises on FX gains and sales boost
MEXICO CITY, July 28 (Reuters) - Mexican bottler and retailer Femsa on Tuesday reported a 64.9% year-on-year jump in second-quarter net profit to 9.22 billion pesos ($526.90 million).
- Total revenue for the April-June period reached 231 billion pesos, a 9.2% increase compared to the same period the previous year.
- Revenue landed above analysts' estimates of 225.40 billion pesos in an LSEG poll.
- Femsa's results were supported by foreign exchange swings that improved the firm's U.S. dollar-denominated cash and investment position, the company said.
- Convenience stores chain Oxxo Mexico's revenues increased 11.8%, reflecting a favorable effect from the World Cup played in Mexico, Canada and the United States, it added.
($1 = 17.4986 Mexican pesos at end-June)




