Grupo Herdez, S.A.B. De C.V. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2019
October 24, 2019 at 05:35 pm EDT
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Grupo Herdez, S.A.B. de C.V. reported consolidated earnings results for the third quarter and nine months ended September 30, 2019. For the quarter, Income was MXN 5,569,282,000 against MXN 5,203,789,000 reported a year ago. Operating profit was MXN 749,809,000 against MXN 671,677,000 reported a year ago. Net profit was MXN 460,740,000 against MXN 511,442,000 reported a year ago. Basic earnings per share was MXN 0.5 against MXN 0.57 reported a year ago.
For the nine months, Income was MXN 16,442,912,000 against MXN 15,122,959,000 reported a year ago. Operating profit was MXN 2,123,992,000 against MXN 2,072,254,000 reported a year ago. Net profit was MXN 1,552,573,000 against MXN 1,664,110,000 reported a year ago. Basic earnings per share was MXN 1.79 against MXN 1.88 reported a year ago.
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. 
