Mexican baker Gruma booked an increase in third-quarter sales and earnings, with sales growth supported by currency exchange, price increases and volume growth. 

In the three-month period to the end of September, Gruma said net sales rose 12% to MXN17.2bn (US$927.6m). The company highlighted the importance of forex, with a weaker peso against the US dollar inflating its result. Gruma said it was also able to achieve price increases to reflect higher raw materials costs. Sales volumes increased 2% year-on-year, the group noted. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Operating income rose 22% in the period, increasing to MXN2.42bn. The company said the growth was largely thanks to “a better performance at Gruma USA”. The group’s operating margin rose to 14.1%, versus 13% in the comparable period of last year. 

Net income totalled MXN1.54bn, an 11% increase. The company said that this was supported by a better operating performance, gains on hedging and the reversal of an impairment charge. 

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now