MEXICO CITY Feb 20 Mexico's Grupo Bimbo
, one of the world's largest bread makers, on
Thursday reported a 622 percent increase in fourth-quarter
profit due to increased revenue and weak comparatives from a
The company reported a profit of 1.28 billion pesos ($97.5
million) in the three months to end-December, compared with
176.75 million pesos in the same period in 2012.
In the fourth quarter of 2012, Bimbo reported an 81 percent
slump in profit after a sharp increase in taxes and financing
Sales at Bimbo, whose brands include Thomas' English
Muffins, Entenmann's cakes and Tia Rosa tortillas, rose 2.7
percent to 46.48 billion pesos.
Grupo Bimbo said earlier this month it would buy Canada
Bread Company for $1.83 billion in cash, its latest in
a string of large North American takeovers.
Shares of Bimbo closed 1.78 percent down at 33.73 pesos
before the company reported.