* Profit rises to 209 mln pesos
* Lower financing costs and stock repurchase drive gains
MEXICO CITY, April 24 Mexican corn miller and
tortilla maker Gruma said on Wednesday its
first-quarter profit rose nearly 150 percent due to lower
financing costs and a stock repurchase from U.S. agribusiness
giant Archer Daniels Midland.
First-quarter profit rose to 209 million pesos ($26 million)
from 84 million pesos a year earlier, the company said. Revenue
was flat at 13.06 billion pesos.
In December last year, Gruma bought back a 23.2 percent
stake of its stock that had been held by Archer Daniels
Gruma shares closed up 0.18 percent on Wednesday at 54.90
pesos before its earnings were issued after the market close.