Comercial Mexicana, the Mexican retail-to-resturant firm, booked an increase in earnings and sales for 2013.
The company said sales 3.1% to MXN47bn (US$3.5bn) in the year to the end of December. Same-store sales rose 1.1% in the face of a decline in the overall grocery retail market, the company said.
Go deeper with GlobalData
Gross profit was boosted by a 60 basis point improvement in margin, rising 4.2% on 2012 to MXN11.4bn. Operating profit jumped 10% from $2.9bn to $2.6bn as the company cut IT and corporate expenses.
Net income totalled $3.68bn. Excluding the impact of discontinued operations in 2012, net income grew by MXN2.4bm, the company stressed.
However, including discontinued business 2012 net profit totalled MXN6.65bn, equating to a drop of 44.6%. The decline also related to moves to deleverage the balance sheet and pay off syndicated financing, Comercial Mexicana said.
Click here to view Comercial Mexicana’s earnings release.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
