Grupo Bimbo reports record sales in the third quarter of 2022

Grupo Bimbo reported on Thursday that its sales reached a record level in the third quarter totaling 102,821 million pesos, with a year-on-year increase of 20%.

The Mexican company pointed to the favorable prices and the increase in volumes as the reasons behind its turnover, an increase that was particularly pronounced in Latin America.

Third quarter sales throughout the region also grew by 27.8% year-on-year, highlighting Argentina, Brazil, Colombia, Peru, and the Latin Centro division.

“The current inflationary environment has been very challenging, however, we have been able to navigate it thanks to the resilience of our categories and the high demand for them,” Daniel Servitje, the company’s president and CEO, said in the report.

profits from Grupo Bimbowith a presence in countries in the Americas, Africa, Asia and Europe, increased by 50.8% in the third quarter, totaling 6,062 million pesos (301 million dollars), compared to the same period in 2021.

The company predicts a good outlook for the rest of the year despite the complex inflationary outlook.

“Despite the challenges we face on several fronts, we continue to see a strong 2022, as our volumes and sales continue to exceed our expectations,” Diego Gaxiola, chief financial officer of Bimbo.

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