Mexican baked goods giant Grupo Bimbo has reported a leap in second-quarter net profit, in line with analysts’ expectations.


Bimbo posted net profit of 213m pesos (US$20.2m) for the quarter, a rise of 76% compared to the year-ago period, helped by the rise in value of the Mexican peso.


The company said lower sales and higher expenses from its US operation hurt operating profits, but costs from upgrading its distribution system were levelling off, reported Reuters.


Second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) were down 0.8% at 969m pesos.


Revenues fell 0.4% to 10.72bn pesos as strong domestic sales failed to offset weak sales in the rest of Latin America and the US.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.