Mexico's Coca-Cola Femsa (KOFL.MX) (KOF.N), the largest Coke bottler in Latin America, reported a 6 percent rise in second-quarter profit as higher sales offset rising costs of raw materials. "Our performance was supported by volume growth across all our divisions and our ability to implement pricing initiatives over the past several months throughout our main markets," Chief Executive Officer Carlos Salazar said in a statement. The company, a joint venture between The Coca-Cola Co (KO.N) and Mexico's Femsa (FMSAUBD.MX), said the cost of goods increased 13.4 percent, mainly due to higher sweetener prices. This was partly offset by the appreciation of local currencies against the U.S. dollar-denominated raw material costs. In a call with analysts, Coca-Cola Femsa Chief Financial Officer Hector Trevino said the company expects sweetener prices to be stable in the second half of the year.
Coca-Cola FEMSA, S.A.B. de C.V. (Coca-Cola FEMSA) is a bottler of Coca-Cola trademark beverages in Latin America. Shares of KOF fell by 0.45% or $-0.42/share to $93.65. In the past year, the shares have traded as low as $65.78 and as high as $95.17. On average, 85673 shares of KOF exchange hands on a given day and today's volume is recorded at 41120.
The Coca-Cola Company is a non-alcoholic beverage company. Shares of KO fell by 0.65% or $-0.45/share to $68.87. In the past year, the shares have traded as low as $53.28 and as high as $69.78. On average, 7545910 shares of KO exchange hands on a given day and today's volume is recorded at 7904106.
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