Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Hillshire Brands Co    HSH   US8031111037


Mexico's Bimbo 4Q Net Profit Down 26% On Operations, Taxes

02/22/2012 | 07:00pm US/Eastern

Mexican baked goods company Grupo Bimbo SAB (BIMBO.MX) said Wednesday its fourth-quarter net profit decreased 26% on the year to 1.01 billion pesos ($79 million), a reflection of the company's operating performance and higher effective tax rate.

The company said sales rose 37% to MXN41.62 billion, driven by organic growth and the integration of Sara Lee Corp. (>> Sara Lee Corp.) operations in the U.S. and Spain, as well as Fargo operations in Argentina.

Higher raw material costs, integration expenses for acquisitions and the depreciation of the Mexican peso ate into the company's quarterly gross margin, which was 51% versus 51.9% in the year-earlier quarter.

Operating income for the quarter increased 8.4% to MXN2.90 billion, although the company's operating margin fell to 7% from 8.8%.

Earnings before interest, taxes, depreciation and amortization grew 15% to MXN4.60 billion for an Ebitda margin of 11% compared with 13.2% in the fourth quarter 2010.

For the full year, Bimbo posted net profit of MXN5.33 billion, down 1.2%, for a net profit margin of 4%. Net sales grew 14.1% in 2011 to MXN133.73 billion.

-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177;

Stocks mentioned in the article : Sara Lee Corp., Grupo Bimbo S.A.B. de C.V.
Recommend :
React to this article
4d ago TYSON FOODS : Successfully completes tender offer for hillshire brands company f..
4d ago HILLSHIRE BRANDS CO : ex-dividend day
5d ago HILLSHIRE BRANDS : Tyson Foods Successfully Completes Tender Offer for The Hills..
5d ago TYSON FOODS : Federal Approval of Tyson-Hillshire Merger Harms Consumers
5d ago TYSON FOODS : And hillshire brands announce extension of tendor offer for shares..
5d ago TYSON FOODS : Grassley Comments on DoJ Filing of Consent Decree in Tyson-Hillshi..
5d ago HILLSHIRE BRANDS : Trademark Application for "JD JIMMYDEAN" Filed by Hillshire B..
5d ago HILLSHIRE BRANDS : Trademark Application for "GRILLED JUICYS" Filed by Hillshire..
5d ago HILLSHIRE BRANDS : Trademark Application for "HILLSHIRE FARM NATURALS" Filed
5d ago HILLSHIRE BRANDS : Trademark Application for "RIP N FLIP" Filed
Dynamic quotes