“Most of that investment will be in the convenience division as we continue to expand stores, and there will be increased investment in KOF (the bottler),” he added.
In particular, the executives pointed out that 750 million dollars would be allocated to proximity, 100 million to health and 120 million to small businesses. They did not specify how much of the remaining $730 million would go to the bottler.
Earlier, the Mexican company reported a year-on-year decline of close to 30% in its fourth-quarter earnings, mainly due to foreign exchange losses stemming from a strengthening Mexican peso.
Femsa reported a net profit of 4,817 million pesos (247 million dollars) compared to 6,717 million pesos in the same period of 2021.
The company’s total revenues, with a presence in 18 countries, rose 23% year-on-year to 186,467 million pesos, driven by growth in all its business units.
Its gross operating flow (EBITDA) increased by 13.3% in the period to 26,562 million pesos.
Femsa also noted that it had seen revenue growth across all of its business units.
With information from Reuters