Mexico's Chedraui 2nd qtr net rises 5 pct

MEXICO CITY, July 27 | Tue Jul 27, 2010 3:50pm EDT

MEXICO CITY, July 27 (Reuters) - Chedraui, Mexico's No. 4 supermarket chain by sales, posted a 5 percent rise in second-quarter net profit helped by stronger domestic revenue.

Chedraui earned 423.5 million pesos ($33 million) in the April-June period, up from 404.3 million pesos in the same period of last year, according to a filing with the Mexican stock exchange on Tuesday.

Quarterly revenue rose 7 percent to 12.36 billion pesos.

Chedraui (CHDRAUIB.MX) made its market debut in April, raising close to $400 million. The proceeds will help it expand its footprint across Mexico. It also has operations in the United States.

Its shares traded down 2.37 percent at 34.95 pesos on Tuesday. ($1 = 12.94 pesos as of end-June) (Reporting by Cyntia Barrera Diaz; Editing by Gary Hill)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.