Mission maker Gruma has seen profits increase in first nine months of year

Mission maker Gruma has seen profits increase in first nine months of year

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.

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.