UPDATE 1-Mexico's Walmex reports higher 1st-quarter profit

Tue Apr 23, 2013 4:28pm EDT

MEXICO CITY, April 23 (Reuters) - Mexico's biggest retailer, Wal-Mart de Mexico, said on Tuesday its first-quarter profit rose 5.5 percent from a year earlier, helped by an increase in sales.

Walmex, controlled by Wal-Mart Stores Inc , reported a profit of 4.971 billion pesos ($403 million), compared to 4.712 billion pesos in the first quarter of 2012.

Revenue rose 5 percent to 101.9 billion pesos.

Walmex shares closed down 0.59 percent at 38.75 pesos before the company reported its results.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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