Mexican bakery group Grupo Bimbo has reported a jump in profits for the first nine months of the year.

For the nine months ended 30 September, net income rose 30% to MXP4.9bn.

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Operating income increased from MXP8.8bn to MXP11.3bn, which Bimbo said was due to improved productivity in Mexico and lower restructuring expenses in the US. Growth in the US was also said to be "notable in the sweet baked goods, breakfast and snacks" categories.

Net sales for the nine-month period rose 17% to MXP159.3bn from MXP135.9bn "reflecting solid organic growth in Mexico, recent acquisitions and FX rate benefit", Bimbo added.

For the third quarter, net income was up to MXP2.2bn from MXP1.7bn. Operating income increased to MXP4.7bn from MXP3.9bn.

Sales rose 13% to MXP56.2bn in the third quarter when Bimbo saw volume trends for sweet baked goods and confectionery improve from the first half of the year.

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