MEXICO CITY Oct 24 Mexican corn miller and
tortilla maker Gruma said on Wednesday its
third-quarter profit rose 73 percent from the year earlier
period, boosted by higher prices.
Third-quarter profit rose to 267 million pesos ($21 million)
from 154 million pesos a year earlier, when foreign exchange
losses hurt earnings.
Gruma said revenue rose 7 percent to 16.226 billion pesos
from 15.222 billion pesos a year earlier, helped by higher
prices for its goods. Sales volumes were up 3 percent.
Gruma shares closed 0.27 percent higher at 41.82 pesos on
Wednesday at a record high after jumping 10 percent since last
U.S. agriculture giant Archer Daniels Midland said
on Tuesday that it reached a preliminary deal to sell its 23
percent stake in Gruma to the chairman of Mexican airport
operator Asur, Fernando Chico Pardo.
Gruma's founder, Mexican businessman Roberto Gonzalez
Barrera, who was also chairman emeritus of bank Banorte, died in
August. He and his family controlled 50.05 percent of the
company's stock, according to Thomson Reuters data.