MEXICO CITY – Mexican breadmaker Grupo Bimbo reported a 66.9% increase in fourth quarter net profit on Tuesday, driven by strong sales, lower financing costs and an effective income tax rate.
Grupo Bimbo’s (BIMBOA.MX) earnings jumped to 4.8 billion pesos ($235 million) in the October-December period, beating the Refinitiv estimate of 3.3 billion pesos ($162 million).
Revenue for the company, which operates some 100 brands, climbed 14.9% in the last three months of 2021, driven by a mix of favorable prices.
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