Grupo Bimbo, the Mexican bakery company, has seen its second-quarter net profit fall 12.4% due to flat sales and higher expenses.
Net profit reached MXN1.25bn (US$98.2m), down from MXN1.43bn in the second quarter of 2009, the company said in a Mexican Stock Exchange filing.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales were relatively flat at MXN28.78bn, with growth in Mexico offset by foreign exchange impacts on its US and Latin American operations.
Sales in Mexico grew 4.8% to reach MXN14.05bn due to growth across all product lines, particularly in bread, sweet baked goods and snacks.
US sales fell 3.9% to MXN12.2bn largely due to the strengthening peso. Revenue from its Latin American operations grew 1.4% to MXN3.26bn with good results in Chile, Colombia and Bolivia.
Operating income dropped 1.2% to MXN2.7bn, while EBITDA rose 1.1% to MXN3.6bn.
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
