Convertidora Industrial, S.A.B. de C.V. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 28, 2022 at 04:23 pm EDT
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Convertidora Industrial, S.A.B. de C.V. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was MXN 405.68 million compared to MXN 535.88 million a year ago. Net loss was MXN 15.5 million compared to net income of MXN 22.68 million a year ago. Basic loss per share from continuing operations was MXN 0.19 compared to basic earnings per share from continuing operations of MXN 0.28 a year ago. Diluted loss per share from continuing operations was MXN 0.19 compared to diluted earnings per share from continuing operations of MXN 0.28 a year ago.
For the six months, sales was MXN 942.97 million compared to MXN 1,015.25 million a year ago. Net income was MXN 8.14 million compared to MXN 46.85 million a year ago. Basic earnings per share from continuing operations was MXN 0.1 compared to MXN 0.58 a year ago. Diluted earnings per share from continuing operations was MXN 0.1 compared to MXN 0.58 a year ago.
Convertidora Industrial SAB de CV (Conver) is a Mexico-based company engaged in the production, distribution and sale of plastic film for food packaging and articles used for party's decorations. The Company's business is structured in four divisions: Conver Empaque Flexible, which produces plastic films, printed reels, plastic bags and pouches used in the food packaging industry; Convergram, which comprises the production and marketing of a variety of balloons under the Kaleidoscope brand; Casematic, which specializes in the production of sausage casings, and Conver Publicidad, which includes the manufacturing and sale of such advertising gadgets as balloons, clappers, wall hangings and envelopes, which are intended for the promotion of other companiesâ logos. As of December 31, 2011, the Company owned such subsidiaries as Asesoria Ejecutiva de Negocios SA de CV, GlobosInter SA de CV, Conver-Industrial SA de CV and Convergram Mexico S de RL de CV.
CONVERTIDORA INDUSTRIAL, S.A.B. DE C.V. 