Coca-Cola Embonor reported a 8.6% increase in its income during 1Q14

The company, one of the major bottlers in Chile, sold 65.1 millions of unitary boxes in the first three months of the year, increasing the consolidated sales volume of the firm in 3.5%. Net income increased 8.6%, reaching CL$114,470 millions.

In a statement, Embonor highlighted "the positive performance of its sales in Chile and Bolivia, with a consolidated growth of 8.6% in net income.  On the other hand, there were major operational costs, in particular, due to increases in labour costs in both countries".

According to the information released by the company, in Chile the sales volume during 1Q14 raised 3.1%, reaching 35.6 millions of unitary boxes or 202 million liters. Sales income were of CL$75,380 milliones (a 3.5% y/y increase) while the operational result was of CL$8,758 millions.

Finally, the company reported a larger non -operating loss, due to exchange rate (local currency depreciation) and inflation adjustments (higher inflation 1Q14 vs 1Q13) effects. Consequently net income declined 33.8% (-31.3% vs E).