Bimbo net income jumps 23% in quarter

by Jeff Gelski
Share This:
MEXICO CITY – Despite a nearly flat performance in sales, Grupo Bimbo S.A.B. de C.V. had net majority income of 1,268 million pesos ($104 million) in the first quarter ended March 31, which marked a 23% increase from 1,032 million pesos in the previous year’s first quarter, the Mexico City-based company said April 29. First-quarter sales of 28,250 million pesos ($2,317 million) compared to 28,357 million pesos in the previous year’s first quarter.

First-quarter operating income rose 20% to 2,615 million pesos and EBITDA increased 17% to 3,569 million pesos as a result of strong performance in Mexico and continued margin improvement in the United States. The company benefited in the United States from an additional 20 days compared to the year-ago period since the acquisition of Weston Foods, now named BBU East, was consolidated Jan. 21, 2009.

In the United States, first-quarter operating income rose 3.6% to 973 million pesos from 940 million pesos. The previously mentioned 20 days and a reduction in operating expenses led to the operating income increase.

First-quarter net sales in the United States fell 4.7% in pesos over the year-ago period to 11,434 million pesos from 11,995 million pesos primarily because of the impact of currency translation. In dollar terms, first-quarter U.S. sales increased 9%.
Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.