Mexico City, Mexico, October 23, 2014 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ, OTC: GUZBY), today announced its results for the third quarter ended September 30, 2014. It should be noted that starting this quarter, consolidated figures are fully comparable to the year ago period as Nutrisa´s results were consolidated as of May of last year.
“We are pleased to see that our commercial initiatives are successfully driving volume performance in this challenging environment. Strong execution and favorable comparables, give confidence that Grupo Herdez will meet its 2014 guidance”, said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer.
Highlights from the quarter:
- Consolidated net sales rose at a double digit rate of 11.3%.
- EBIT and EBITDA margins expanded by 90 and 110 basis points to 14.2% and 16.5%, respectively.
- Net consolidated margin grew 150 basis points to 10.2% mainly reflecting gains registered at the gross margin level