Mexico City, Mexico, October 26, 2017 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the third quarter ending September 30, 2017.
“Our performance in the third quarter remained positive despite the natural disasters that stroke our nation. The resiliency of our business model and our industry, together with the strategic measures and initiatives we are implementing, are allowing us to cope with the disruptions, while also prevailing during uncertain times. We remain confident about meeting our guidance for this year”,Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer
Net sales in the third quarter increased 6.0 percent compared to the same period of last year to MXN 4,816 million. Net sales in the Preserves division grew 7.2 percent, showing a slowdown when compared to the first six months of the year. This is explained by the
distribution disruptions as a consequence of Mexico’s earthquake and floods that affected several regions of the country.
Highlights from the quarter:
- Consolidated net sales increased 6.0 percent to MXN 4,816 million.
- Consolidated EBIT and EBITDA margins were 12.8 and 15.7 percent, respectively.
- Majority net income reached MXN 172 million, with a margin of 3.6 percent.