Mexican restaurant operator Alsea's profit down 66% in Q1

About this update from Alsea, S.a.b. De C.v.

Mexican restaurant and cafe chain operator Alsea BMV:ALSEA on Tuesday posted a first-quarter net profit drop of 65.7% compared with the same period last year, hitting 114.86 million pesos ($6.41 million).The multinational, which operates high-profile restaurant chains like Domino's Pizza and Starbucks in Europe and Latin America, reported revenues up 1.4% in the January-to-March period, landing at 20.07 billion pesos.The net profit landed well below expectations from analysts polled by LSEG, who forecast net profit at 317.48 million pesos in the first quarter, and mostly in line with their forecast of revenues of 20.30 billion pesos.($1 = 17.9252 Mexican pesos at end-March)

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