Mexico City. The Mexican bottler Arca Continental reported on Thursday that its profits increased 0.8 percent year-on-year in the first quarter, due to a timid increase in its income that suffered from the strong appreciation of the peso.
Arca Continental, the second largest Coca-Cola bottler in Latin America, reported a net profit of 3,761 million pesos compared to 3,731 million pesos in the same period of 2023.
Executives from the firm held a call with analysts to discuss the results, in which they noted that Ecuador, and especially Argentina, will continue to be a challenge during the first half of the year.
The company’s quarterly revenues grew just 0.1 percent year-on-year to 50,743 million pesos, as volumes remained virtually unchanged and the peso appreciated around 8 percent against the dollar. Without considering the effect of the exchange rate, sales increased 8.5 percent, Arca said.
The bottler added that the cost of sales decreased 1.8 percent as a result of lower prices in most raw materials, as well as favorable currency hedging.
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– 2024-04-28 22:03:29
