Higher operating margins allowed Mexican poultry group Industrias Bachoco to book an increase in first-quarter earnings, shrugging off lower sales in the period.
EBITDA rose 17% as operating margins increased to 11.5% for the quarter, up from 9.5% in the year-ago period. Net profit gains trailed, rising 3.4%, as higher tax costs weighed on the bottom line.
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Sales were down due to lower selling prices for chicken products partially offset by higher volumes, the company said.
