Femsa Posts Strong Results - Hunt Now On For Acquisitions?

Mexico-based Femsa has reported surging sales for 2009. In the 12 months to the end of December Femsa's net sales increased by 17% to MXN197bn (US$15bn). Net profits jumped by 48% to MXN9.9bn, with profitability in the previous year having been hampered by the weak value of the Mexican peso. The firm recorded strong growth across all of its divisions but its soft drink and retail arms significantly outperformed its brewing unit, which is set to be sold to Heineken in return for a 20% stake in the Dutch brewer. Femsa has again signalled that it is in a strong

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