Convertidora Industrial, S.A.B. de C.V. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 02:07 pm EDT
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Convertidora Industrial, S.A.B. de C.V. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was MXN 377.4 million compared to MXN 405.68 million a year ago. Net loss was MXN 4.34 million compared to MXN 15.5 million a year ago. Basic loss per share from continuing operations was MXN 0.05 compared to MXN 0.19 a year ago. Diluted loss per share from continuing operations was MXN 0.05 compared to MXN 0.19 a year ago.
For the six months, sales was MXN 780.66 million compared to MXN 942.97 million a year ago. Net loss was MXN 2.75 million compared to net income of MXN 8.14 million a year ago. Basic loss per share from continuing operations was MXN 0.03 compared to basic earnings per share from continuing operations of MXN 0.1 a year ago. Diluted loss per share from continuing operations was MXN 0.03 compared to diluted earnings per share from continuing operations of MXN 0.1 a year ago.
Convertidora Industrial SAB de CV (Conver) is a Mexico-based company engaged in the production, distribution and sale of plastic film for food packaging and articles used for party's decorations. The Company's business is structured in four divisions: Conver Empaque Flexible, which produces plastic films, printed reels, plastic bags and pouches used in the food packaging industry; Convergram, which comprises the production and marketing of a variety of balloons under the Kaleidoscope brand; Casematic, which specializes in the production of sausage casings, and Conver Publicidad, which includes the manufacturing and sale of such advertising gadgets as balloons, clappers, wall hangings and envelopes, which are intended for the promotion of other companiesâ logos. As of December 31, 2011, the Company owned such subsidiaries as Asesoria Ejecutiva de Negocios SA de CV, GlobosInter SA de CV, Conver-Industrial SA de CV and Convergram Mexico S de RL de CV.
CONVERTIDORA INDUSTRIAL, S.A.B. DE C.V. 