Mexican baked-goods company Bimbo has reported a fall in third-quarter net profit of 7% despite a jump in sales.

The company's third-quarter net profit was 333m pesos (US$33.5m), beating analysts' average forecasts of 324m pesos.

Bimbo said that the fall in profit was due to higher costs to service debt taken on when the company acquired a US baker.

An 88.2% jump in US sales helped the company to achieve consolidated Q3 sales of 10.3bn pesos, up 18.5% from last year.

The revenue increase was due to the acquisition of Canadian baker George Weston's US assets earlier this year.

Bimbo sells the majority of its product domestically and in the US, but also has operations in 16 other countries in the American continent and Europe.