Grupo Bimbo Records Growth in Sales
Mexican breadmaker Grupo Bimbo has announced that its third-quarter sales jumped nearly 11% on the back of strong performance in Mexico and North America, recent acquisitions and foreign exchange fluctuations.
Bimbo said in a filing that sales rose 10.7% to MXN72.4bn (USD3.7bn) while net profit grew 6.1% compared to the year-earlier quarter.
The company said net profit was MXN1.81bn (USD97m) between July and September.
Bimbo in recent years has expanded into China, India, and Morocco while growing its U.S. footprint.
On the other hand, during the last years, Bimbo has closed some of its facilities and plans to close production in some other plants. For example, Bimbo Bakeries USA has announced plans to close its baking plant in Madison by January 2, 2019. The facility makes bread and buns sold under the Sara Lee brand. In November, Bimbo set out plans to close two other plants in the US as part of a redistribution of its production across the country.
In 2017, Bimbo ended production at two of its outlets in Kentucky and South Dakota.