April 29, 2008

Industrias Bachoco Q1 sales up 17 percent on-year
 

Mexican poultry producer and processor Industrias Bachoco has reported sales of US$452.5 million in the first quarter of 2008, up 16.5 percent from sales of US$388.5 million on-year.

Operating profit increased 7.6 percent in the first quarter, while EBITDA was up 7.4 percent to US$37.5 million from US$35 million on-year.

The company was affected by continuous rises in grain and soymeal prices in the first quarter, according to Cristobal Mondragon, CEO of Industrias Bachoco.

"In response to the current adverse conditions, we reinforced our productivity efforts, optimized our mix products and transferred part of our cost increases to products price as the demand and economy allowed us to do so. Demand and supply were stable during most of the quarter", said Mondragon.

Based in Celaya, Guanajuato, Industrias Bachoco is the largest poultry company in Mexico. Its main product lines are chicken, eggs, balance feed and swine. Industrias Bachoco is a vertically integrated company, with a national distribution network as well as processing plants that operate in conjunction with other 700 facilities located in nine complexes in Mexico.