Mexican conglomerate Alfa is looking into a possible IPO of food unit Sigma Alimentos.
Alfa confirmed it was studying a share offer for Sigma, which produces products from dairy and meat to frozen food, although the company has yet to decide on whether to proceed with the move.
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“We have just said that as a part of our financial strategy, we are exploring the possibility of a Sigma IPO. There is no more information to add,” a spokesperson for Alfa told just-food.
In 2012, Sigma booked revenue of MXN45.48bn (US$3.46bn), up 10.7% on the year. Operating profit stood at MXN4.78bn, 40.8% higher compared to 2011. Net profit reached MXN3.67bn, up sharply from MXN811.1m a year earlier.
In the first half of this year, revenue had grown 4% year-on-year to MXN23.44bn. Operating profit grew 14.2% to MXN2.62bn. However, net profit had dipped 3.7% to MXN1.43bn.
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