Bakery giant Grupo Bimbo saw first-quarter profits jump by 22% thanks to better margins in Mexico and the US.
Bimbo booked net income of MXN1.3bn (US$102.4m), a rise of 22.9% on the year, for the three months to 31 March.
The improved bottom line came as operating income rose 19.8% to MXN2.62bn and Bimbo’s operating margin rose by 1.9%.
Sales were flat at MXN28.3bn as the weak US dollar more than offset a 3.2% rise in sales in Mexico.
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