July 27, 2009
Mexico's Industrias Bachoco reports increased Q2 margins
Industrias Bachoco, Mexico's largest poultry processor, has reported of a good second quarter whereby sales and operating margin experienced growth.
Net sales jumped 20.1 percent to MXN5.99 billion for the second quarter.
Operating margin was at 14.3 percent for the second quarter, compared with 11.4 percent for the first half of 2009.
Second quarter operating income more doubled on the year to MXN858.6 million, compared to MXN311.6 million a year ago.
CEO Cristobal Mondragon said there was a good balance between supply and demand, while a more stable Mexican peso, productivity gains and a better sales mix boosted margins.
Second-quarter net majority income reached MXN695.7 million against MXN194.4 million a year earlier.
US$1 = MXN13.2100 (Jul 27)
