PRN: FEMSA Achieves Double-Digit Revenue and Operating Income Growth Across Operations in 3Q11
Third Quarter 2011 Highlights: FEMSA comparable consolidated total revenues and income from operations grew 18.8% and 16.0%, respectively, compared to the third quarter of 2010, reflecting double-digit growth at Coca-Cola FEMSA and FEMSA Comercio.
FEMSA Achieves Double-Digit Revenue and Operating Income Growth Across Operations in 3Q11
MONTERREY, Mexico, October 28, 2011 /PRNewswire/ --
Fomento Economico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the third quarter of 2011.
Third Quarter 2011 Highlights:
Jose Antonio Fernandez Carbajal, Chairman and CEO of FEMSA, commented: "We have completed another strong quarter for our business, one where we saw good growth across our operations as well as very encouraging developments on the strategic front. Â Operationally, demand for our products remained healthy and we were able to convert that demand into robust financial results. Â However, we have to be cautious given the delicate economic environment that we continue to face. Â Strategically, Coca-Cola FEMSA's merger with the beverage division of Grupo Tampico moved forward successfully, and we were also able to announce an agreement to merge Coca-Cola FEMSA with Grupo CIMSA. Â These are very important transactions that should allow us to create significant value for the shareholders of all the companies involved. Â We are honored to be entrusted with these new challenges and we are also very enthusiastic about the future."
To obtain the full text of this earnings release, please visit our Investor Relations website at
This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact our actual performance.
FEMSA is a leading company that participates in the non-alcoholic beverage industry through Coca-Cola FEMSA, the largest independent bottler of Coca-Cola products in the world in terms of sales volume; in the retail industry through FEMSA Comercio, operating the largest and fastest-growing chain of convenience stores in Latin America, and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world's leading brewers with operations in over 70 countries.
Company Codes: NYSE:FMX, Bloomberg:FEMSAUBD@MM, Bloomberg:FMX@US, RICS:FMSAUBD, RICS:FMX.N, Mexico:FEMSAUBD