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Coca-Cola FEMSA Q3 profit climbs 47.4% YOY

Coca-Cola FEMSA SAB de CV said its third-quarter normalized net income was 12.90 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 13.99 pesos per share.

EPS climbed 45.7% year over year from 8.85 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.71 billion pesos, a gain of 47.4% from 1.84 billion pesos in the prior-year period.

The normalized profit margin climbed to 5.5% from 4.3% in the year-earlier period.

Total revenue increased 16.6% on an annual basis to 49.36 billion pesos from 42.35 billion pesos, and total operating expenses increased 18.4% year over year to 44.47 billion pesos from 37.56 billion pesos.

Reported net income increased 39.2% on an annual basis to 3.15 billion pesos, or 15.00 pesos per share, from 2.26 billion pesos, or 10.90 pesos per share.

As of Oct. 25, US$1 was equivalent to 19.06 Mexican pesos.