Wal-Mart de Mexico posted record sales and profits last year, and said the positive growth trend is continuing in 2006.
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Mexico’s leading retailer, also known as Walmex, reported net profits of MXN9.47bn (US$902m) in 2005. The company achieved sales totalling MXN164.3bn, with same-store sales up 5.4% year-on-year.
Fourth-quarter sales grew by an impressive 15% over results for Q4 2004, to MXN50.25bn, although increased tax payments meant that net profits slipped by 2%.
Eduardo Solorzano, the company’s president and chief executive, said Walmex had its best results ever in a year in which it invested US$764m. During the year, Wal-Mart de Mexico opened new 95 outlets, expanding into 29 new cities.
Sales growth has continued into 2006, with the company reporting a year-on-year rise of 14.1% in January.
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By GlobalData
