Femsa Faces Financial Fall: Net Profit Plummets

Shares in Mexico's Femsa faced a significant downturn, dropping 5% in early trading on Monday. This decline followed the company's report that its net profit had slumped dramatically during the second quarter.

As a major player controlling one of the largest Coca-Cola bottlers and a vast network of convenience stores, Femsa announced profits had fallen to nearly a third of their previous year's same-quarter performance.

The financial results saw net profits hitting 5.59 billion pesos, highlighting a challenging period for the firm.

(With inputs from agencies.)