Mexico City, Mexico, July 26, 2018 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the second quarter ending June 30, 2018.
“Our strength in commercial execution allowed us to lever a strong June month which drove our performance in the second quarter,” “The adjustments made in the past years in anticipation of today’s market uncertainties continue to strengthen our leadership position,”he added.Said Héctor Hernández-Pons Torres, chairman and chief executive officer at Grupo Herdez.
Highlights for the quarter:
- Consolidated net sales increased by 7.0 percent to MXN 5,217 million due to volume growth in Preserves and Exports divisions.
- Consolidated EBIT and EBITDA margins expanded 80 and 50 basis points to 14.9 and 17.4 percent, respectively.
- Consolidated net income totaled MXN 665 million, 54.0 percent higher than the same quarter in 2017, with margin growth of 3.9 percentage points to 12.8 percent.