Mexican corn flour and tortilla manufacturer Gruma said today (22 February) that fourth quarter profits fell on higher taxes, despite a rise in sales.
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Net profit totalled MXN248.9m (US$23m), down from MXN348.1m a year ago.
Sales for the quarter rose 7% year-on-year, increasing to MXN8.23bn. The company was particularly pleased with its international performance, which accounted for 68% of sales growth.
