UPDATE 3-Mexico's Femsa rebounds from pandemic with Q2 profit
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MONTERREY, Mexico, July 28 (Reuters) - Mexican conglomerate Femsa reported a second-quarter net profit of 3.08 billion pesos ($154.5 million) on Wednesday, compared with a loss of 11.69 billion a year earlier.
"One year ago, we were in the eye of the storm. ... Today, while the health emergency is not over, there is a clear recovery trend across business units and across markets," Chief Executive Officer Eduardo Padilla said in the earnings report.
Total revenue for the Monterrey-based bottler and retailer, which also operates the vast Oxxo convenience store chain, as well as pharmacies and gas stations, rose 19.7% to 137 billion pesos.
Femsa shares were up 2.8% after the release of the results, which beat investor expectations.
Revenues for the company's gas stations rose 56.3% from the same period last year, driven by growth in volume and an increase in the average price per liter, Femsa said.
Femsa's pharmacy unit revenue grew by 17.6%, while revenue for its convenience stores increased by 17.1% compared to the same quarter last year. (1 dollar = 19.9470 Mexican pesos at the end of June) (Reporting by Laura Gottesdiener in Monterrey and Noe Torres in Mexico City, writing by Laura Gottesdiener, editing by Louise Heavens, Jason Neely, Nick Macfie and Paul Simao)
