Embotelladora Andina Reports Profit Decline

Chilean beverage firm Embotelladora Andina has announced a significant decline in its net profits for the fourth quarter of 2009. The firm, which holds a franchise to bottle Coca-Cola products, reported that net profits for the final three months of the year fell by 14.9% to CLP32.71bn. Net sales for the period climbed by 7.8% to CLP236bn, while in volume terms sales increased by 4.3%. Full-year net profits were down by 6.2% to CLP86.92bn, while volumes were up by 2.6%. The lacklustre financial performance has been attributed to exchange rate losses, the high cost of sugar and the difficult economic

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