Mexican tortilla maker Gruma posted a jump in nine-month profits as a drop in costs boosted earnings.
Gruma, the parent company of Mission Foods, booked of MXN6.73bn (US$497m) for the period to the end of September, compared to MXN2.46bn a year earlier.
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Lower tax and interest costs helped Gruma’s bottom line, although the company’s work on its operating costs did boost its operating profit, with SG&A expenses down year-on-year. Operating income increased 33% to MXN4.43bn.
Net sales grew 1% to MXN37.03bn. Gruma pointed to the impact of currency and higher sales in its combined Asia and Oceania business.
