(Bloomberg) -- Fomento Economico Mexicano SAB reported third quarter income of 9.2 billion pesos ($460 million), beating the average estimate of 9.1 billion pesos compiled by Bloomberg.
Femsa shares rose 1.4% to 195.49 pesos per share at 7:53 a.m. in Mexico City.
The San Pedro, Mexico-based bottler and retailer known as Femsa posted revenue of $197 billion pesos in a statement Monday. Analysts had expected $202 billion pesos.
Traffic at its ubiquitous convenience stores OXXO fell 5.7% during the quarter but was offset by higher ticket prices, Chief Executive Officer Jose Antonio Fernandez Carbajal wrote in the statement. Mexico’s consumer environment is expected to stay “soft” in the second half of the year, he added.
Revenue at the health division came in at 20.9 billion pesos and at 17.1 billion pesos at the fuel division.
Earlier this month, Femsa agreed to sell logistics operations to Mexican trucking firm Grupo Traxion for 4 billion pesos ($205 million) as the conglomerate continues to shed assets outside its core retail and bottling operations. In August, Femsa said it would acquire Delek’s retail business in the US for $385 million in cash.
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