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Coca-Cola FEMSA Q2 profit falls YOY

Coca-Cola FEMSA SAB de CV said its normalized net income for the second quarter came to 11.67 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 12.83 pesos per share.

EPS decreased 5.9% year over year from 12.39 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.42 billion pesos, a decline of 5.9% from 2.57 billion pesos in the prior-year period.

The normalized profit margin rose to 6.6% from 6.2% in the year-earlier period.

Total revenue decreased 11.6% year over year to 36.55 billion pesos from 41.35 billion pesos, and total operating expenses fell 12.8% from the prior-year period to 31.07 billion pesos from 35.64 billion pesos.

Reported net income came to 2.67 billion pesos, or 12.87 pesos per share, compared with 2.67 billion pesos, or 12.90 pesos per share, in the year-earlier period.

As of July 23, US$1 was equivalent to 16.10 Mexican pesos.