Mexican poultry firm Industrias Bachoco said it recorded “strong and sound” results for the first quarter with a slight increase in profits.
For the quarter ended 31 March, net majority income amounted to MXN274.9m (US$22.6m) compared to an income of MXN273.9m in 2009.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Total sales increased 1.1% from 2009’s first quarter to reach MXN5.93bn.
Operating profit, however, dropped to MXN342m from MXN494.8m in the comparable 2009 quarter.
Cristobal Mondragon, Bachoco’s CEO, said: “While the economic conditions prevailing in Mexico continued to slowly improve, we observed a good demand for our products, impacting our first quarter results and showing an improvement from the previous year in terms of sales and volume sold.”
