Mexico’s Alsea reports 98% tumble in third-quarter profit

(Reuters) – Mexican restaurant chain operator Alsea on Tuesday posted a 98% tumble in its third-quarter net profit, reaching just 11.9 million pesos.

Alsea, which operates chain stores including Starbucks (NASDAQ:), Burger King and Domino’s Pizza (NYSE:), also reported quarterly revenues up 6.5% from a year earlier to 20.74 billion pesos.

(This story has been corrected to fix the percent change for revenue to ‘up 6.5%,’ not ‘down 64%,’ in paragraph 2)