Mexico City, Mexico, July 26, 2012 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (BMV: HERDEZ), today announced its results for the second quarter ended June 30, 2012.
“We see continued sequential improvement in the consumption environment as evidenced by healthy volume growth in our operations. Although risks remain, we are optimistic about the trend in our performance for the remainder of the year,”said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer.
It should be noted that the Company has begun reporting its results under International Financial Reporting Standards as of January 1, 2012, with figures for the previous period restated accordingly.
Highlights from the quarter:
- Net sales rose 16.1% with healthy performance across all markets.
- Operating income and EBITDA nearly unchanged despite higher inputs costs and a weaker peso.
- Net majority income was Ps. 196 million, up 6.0%.