Wal-Mart de Mexico has posted a 12% increase in operating profit for the third quarter of the year.
EBITDA for the quarter up to the end of September amounted to MXN8.4bn (US$628.9m), which represents a 12% increase on the same period last year. Net income was MXN4.8bn, a 15% increase on 2010.
Meanwhile, total revenue increased 10.6% to MXN91bn. Scot Rank, executive president and CEO for Walmart Mexico and Central America, said: “I am satisfied with the results achieved this quarter. In Mexico we had the highest sales growth of the year, both in comparable and total stores.
“In Central America, the third quarter represented a quarter of investment and business transformation, which will allow us to establish a strong foundation for sustained growth.”
So far in 2011 Walmex has opened 215 stores in Mexico and 43 in Central America.
See Also:
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.
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