Femsa’s Profit Falls

Femsa, the world’s second-largest Coca-Cola bottler, said first-quarter net income fell 17% to $64 million as interest costs rose faster than sales at its soft drink, beer and Oxxo convenience-store units. Femsa’s interest charges were $90 million, a 29% increase from a year ago, after the company paid $1.25 billion in August for the 30% stake that InBev owned in Femsa’s beer unit. The company’s net debt rose 26% from a year earlier to $3.58 billion.