Mexican bakery giant Grupo Bimbo has reported an 8.3% rise in third-quarter net profit, helped by higher US sales and lower costs from a technology upgrade.
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The company, which is the world’s third-largest bread maker, reported net profit of 312m pesos (US$27.95m), beating forecasts. Operating profit rose 2.3% to 949m pesos.
“The improvement in operating results was due to the conclusion of the most critical stage of the company’s technological, operational and commercial transformation projects,” Bimbo was quoted by Reuters as saying.
The company said its US sales during the third quarter were 3.21bn pesos, a rise of 1.1% from the year-ago period. The company’s US sales account for around 27% of total sales, reported Reuters.
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