Mexico City, Mexico, February 23, 2017 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ, OTC: GUZBY) today announced results for the fourth quarter and full year ended December 31, 2016.
“Exceptional commercial execution, brand repositioning, channel expansion, and effective pricing strategies enabled us to achieve double-digit sales growth in the year. The above in combination with the Company’s hedging strategy, helped to partially offset gross margin pressure,”Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer.
Highlights from the year:
- Consolidated net sales rose 11.2% to Ps.18,180 million on solid growth in Mexico core and strong performance in Frozen.
- Consolidated EBIT and EBITDA margins were 13.0% and 15.5%, respectively.
- Consolidated net income was Ps.1,593 million, 23.2% higher than in 2015.