Mexican poultry processor Industrias Bachoco saw its half-year profits rise on the back of increased sales of chicken.
Net majority income for the first six months of the year surged 230.8% to MXN977.4m (US$72.8m). EBITDA jumped 144.9% to MXN1.70bn, while net sales rose 48% to MXN18.74m.
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CEO Rodolfo Ramos said: “The company’s financial position remains solid and in line with the strategic plan laid out for 2012.”
Meanwhile, during the second quarter, net income jumped 126.3% to MXN316.8m, because of lower operating expenses as a percentage of net sales coupled with operating efficiencies in Bachoco’s business.
Net sales increased 42.1% to MXN9.40bn on the back of growth in of the company’s poultry and balanced feed business lines.
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