Mexico City, Mexico, July 25, 2019 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results of the second quarter OF 2019, ended June 30, 2019.
“Our top-line performance in the first six months of the year reflects our focus on commercial execution, which has helped offset the slowdown in the economy. We will continue to invest in innovation to strengthen our leadership and the relevance of our portfolio among consumers,”Said Héctor Hernández-Pons Torres,President and CEO of Grupo Herdez.
HIGHLIGHTS FOR THE QUARTER
- Net sales grew 8.5% compared to the same quarter of the previous year, driven by price increases in the Preserves segment and higher sales volumes in the Frozen segment.
- EBIT and EBITDA margins of 13.0% and 16.5%, respectively reflected the impact of an unfavorable sales mix.
- Consolidated net income totaled MXN 575 million, representing a margin of 10.1 percent.