Wal-Mart de Mexico, the US retailer’s arm in Central America, has booked an increase in first-half sales and earnings.
The company said EBITDA in the first six months of the year rose to MXN18.6bn (US$1.46bn), up 5% year-on-year. Improved operating profit was driven by higher sales and operational improvements, the group sale.
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Sales were up 3.5% to MXN200.5bn, the group revealed in a regulatory filing.
Speaking during a conference call following the results release, CFO Rafael Matute said the “top priority” for the business remains driving top-line growth. However in a “soft sales environment” in Mexico the retailer “reinforced” its “commitment to productivity and cost control”.
Net income rose 4.9% to MXN10.1bn, the group added.
Click here to view the Walmex announcement.
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