Mexico City, Mexico, October 25, 2012 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (BMV: HERDEZ), today announced its results for the third quarter ended September 30, 2012.
“Performance in the third quarter continued to trend positively as expected, with sequential improvement in the consumption environment and strong organic performance in the U.S. We feel confident about meeting our targets for 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 21.5% with solid performance across Mexico and the U.S.
- Operating income and EBITDA increased 22.0% and 23.6%, respectively.
- Net majority income remained unchanged.