Grupo Herdez Reports Earnings Results for the First Quarter of 2017
April 21, 2017 at 12:00 pm EDT
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Grupo Herdez reported earnings results for the first quarter of 2017. For the period, the company has posted net sales of MXN 4,809 million, an 11.1% increase compared to the same quarter of last year. This increase was primarily driven by pricing actions taken in the last 12 months in freezers and double-digit growth in Helados Nestle. EBIT totaled MXN 672 million, with a margin of 14%, that is 2.4% points higher than the same period in 2016. The increase in EBIT was primarily due to solid top line performance, a better sales mix in the freezer division and the lower SG&A in the Frozen division.
Grupo Herdez SAB de CV is a Mexico-based company engaged in the food processing sector. The Company's activities are divided into two business segments: Food and Frozen. The Food division focuses on the manufacture and distribution of canned and packed food products in Mexico and the United States. Its offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree and tuna, among others. It sells products through a number of brand names, such as Aires de Campo, Barilla, Bufalo, Chi-Chi's, Del Fuerte, Don Miguel, Dona Maria, Embasa, Herdez, La Victoria, McCormick, Wholly Guacamole and Yemina. In addition, it has distribution agreements in Mexico for GoGoSqueez, Kikkoman, Ocean Spray, Reynolds and Truvia products. The Frozen division is responsible for the manufacture and distribution of frozen yogurts and ice creams under the Nutrisa and Helados Nestle brand names.
GRUPO HERDEZ, S.A.B. DE C.V. 
