FEMSA Results Highlight Key Role For Brazilian Business In Heineken Takeover

Mexico-based beer producer FEMSA Cerveza has posted net sales growth of 4% for the first three months of 2010. The business, which on April 30 2010 was formerly acquired by Heineken, posted nedddt sales of MXN10.4bn with volume growth of 10% in Brazil, offsetting a volume decline of 6% in Mexico. FEMSA generates the bulk of its revenues in Mexico, a market BMI believes will offer steady if unspectacular growth (in comparison to other emerging markets) over the next five years. However, these latest results suggest that the firm's Brazilian unit looks even better placed to deliver growth, as long

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