Gruma has posted an increase in H1 profits

Gruma has posted an increase in H1 profits

Gruma has reported an increase in net income for the first half of 2014 driven by better operational performance, foreign exchange rate fluctuations, lower interest expenses and taxes.

The firm posted a net profit increase to MXN1.8bn (US$139m) compared with MXP451m for the same period a year earlier.

Operating income rose 38% to MXN2.7bn. Sales were flat against the same period last year at MXN24.5bn

Sales fell 1% however in the second quarter of the year as a result of lower prices as well as lower volumes in Europe.

Operating income however was up 30% to MXN1.3bn and net income also rose to MXN1.2bn from MXN280m for the same period a year earlier.

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