From GlobeNewswire:

Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) reported a 4.6% growth in Total Consolidated Revenues during the fourth quarter of 2023. FEMSA Retail’s Proximity Americas saw a 14.2% increase in total revenues, while COCA-COLA FEMSA experienced a 6.1% growth in total volume and revenues compared to the same period in 2022.

José Antonio Fernandez Carbajal, FEMSA’s CEO, highlighted the company’s strong performance in the fourth quarter, with robust revenues across different business units. He mentioned challenges like increased labor costs in Mexico but highlighted successes like Proximity Americas’ revenue increase and Coca-Cola FEMSA’s strong results.

FEMSA plans to execute its capital allocation framework to reach its leverage objective within two to three years. The company, as part of its FEMSA Forward strategy, aims to capitalize on the most compelling opportunities ahead. FEMSA is recognized for its sustainability performance on various indexes, including the Dow Jones Sustainability MILA Pacific Alliance and the FTSE4Good Emerging Index.



Read more: FEMSA Announces Fourth Quarter and Full Year 2023 Results