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UPDATE 1-Mexico's Soriana first-quarter profit up on higher sales
April 26, 2013 / 4:10 PM / 4 years ago

UPDATE 1-Mexico's Soriana first-quarter profit up on higher sales

April 26 (Reuters) - Mexico’s No. 2 retailer, Organizacion Soriana, said on Friday its first-quarter profit increased almost 5 percent, boosted by higher sales.

Soriana reported a profit of 1.016 billion pesos ($82 million), compared to 969 million pesos in the year-earlier quarter.

Revenue rose 5.1 percent to 25.34 billion pesos.

The company said it opened four stores in the quarter, in line with its 2013 growth plan.

Competitor Wal-Mart de Mexico on Tuesday reported a similar rise in profit on higher sales.

Soriana shares were flat in early trading at 49.45 pesos.

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