MEXICO: Walmex achieves “solid” Q1

By just-food.com | 16 April 2010

Wal-Mart de México said it booked a “solid” set of results for the first quarter as net income increased 19%.

For the three-month period, net income reached MXN4.11bn (US$337m) from MXN3.46bn in the year ago period.

Total revenue increased 17% to reach MXN72.33bn, while operating income for the quarter amounted to MXN7.10bn, a 22% increased on 2008. The figure represented 9.8% of total revenues, a growth of 21.8% over last year’s levels.

Scot Rank, executive president and CEO for Walmart de Mexico and Central America said: “I am very pleased to report consolidated results from Walmart de Mexico and Central America. In both cases they were very solid. Both in Mexico and Central America operating income grew more than sales.”

Sectors: Emerging markets, Financials, Retail