Mexican retailer Controladora Comercial Mexicana (Comerci) is expected to post a net profit in the second quarter, compared to a year-ago loss, helped by currency gains and cost controls.
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Analysts polled by Reuters have forecast, on average, that Comerci’s second-quarter net profit will be 140m pesos (US$13.5m), compared with a loss of 34m pesos a year earlier.
Revenue is expected to rise 6%, while earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to rise 27%.
Analysts said Comerci’s improved sales and profits have been helped by the consolidation of five newly acquired Auchan stores, as well as better cost controls, including better prices from suppliers and a new distribution centre, reported Reuters.
The retailer is scheduled to report its second-quarter results on 23 July.
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