MEXICO CITY Jan 24 Grupo Sanborns, the cafe and
retail chain owned by billionaire Carlos Slim that plans to
relist in the local stock market, reported on Thursday an 11.5
percent rise in 2012 profit, driven by stronger sales.
The company, a unit of conglomerate Grupo Carso, earned
nearly 3 billion pesos ($233 million) last year, up from 2.7
billion pesos in 2011.
Sales last year rose 8.2 percent to 39.41 billion pesos
Grupo Sanborns, which tracks its origins to a small drug
store founded in Mexico City in 1903, is expected to launch a
roadshow for its planned relisting on the Mexican stock exchange
on Friday, according to an official close to the deal.
The company seeks to raise some $720 million by offering up
to 350 million shares to domestic and international investors.
Proceeds will be used to fund expansion plans, including
Grupo Sanborns, which operates coffee shops, restaurants,
department and music stores, delisted in 2007 after it was
absorbed by Grupo Carso.