Mexico City, Mexico, October 22, 2015 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ, OTC: GUZBY) today announced results for the third quarter ended September 30, 2015.
said Héctor Hernández-Pons Torres, Chairmanand Chief Executive Officer.
“Strong market execution, healthy growth in our newly acquired ice cream business, and continued gains from production efficiencies propelled performance in the quarter, offsetting the impact on costs of a stronger dollar”,
Highlights from the quarter:
- Consolidated net sales rose 16.3% primarily driven by the incorporation of Helados Nestlé and 7.4% growth in Mexico core.
- EBITDA margin expanded 2.0 percentage points to 18.5% on better COGS in Mexico core and the Frozen division.
- Consolidated net income increased 16.1% to Ps. 432 million.