Wal-Mart de Mexico has booked an increase in third-quarter profits

Wal-Mart de Mexico has booked an increase in third-quarter profits

Wal-Mart de Mexico has booked an increase in third-quarter profits, boosted by sales that were driven by expansion in Mexico and Central America.

The retailer, also known as Walmex, said yesterday (10 October) that it earned MXN4.25bn (US$340m) in the three months to the end of September, a 10% increase on last year.

EBITDA increased 18% to reach MXN7.53bn. Revenues rose 27.4% to MXN81.94bn.

Meanwhile, comparable-store sales increased 2.8% on last year.

Executive president and CEO Scot Rank said: "This quarter we continued to grow at a faster rate than the market with record sales. We will continue to invest in Mexico and Central America, achieving our goal for this year of increasing our installed capacity by 11% in Mexico and 3.5% in Central America."