Mexico City, Mexico, October 20, 2016 – 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, 2016.
“We are pleased to report continued sales growth in Mexico and solid performance in our Frozen division, with healthier margins thanks to excellent commercial execution,”said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer
Highlights from the quarter:
- Consolidated net sales rose 7.0% primarily driven by solid growth in Mexico core and strong performance in the Frozen division.
- EBIT and EBITDA margins were 13.9% and 16.6%, respectively, reflecting an expected sequential improvement.
- CAPEX in the quarter totaled Ps. 128 million