MEXICO CITY, April 18 (Reuters) - Mexican conglomerate Alfa said on Thursday that first-quarter profit fell 17 percent.
The company said in a statement that profit fell to 2.631 billion pesos ($213 million) from 3.189 billion pesos in the year-earlier quarter.
The Monterrey-based company said costs rose 3 percent, while financial income slid as Mexico’s peso strengthened during the quarter.
Alfa, which owns auto parts and petrochemical businesses, did not immediately provide further details.
The company’s shares closed down 1.57 percent at 29.41 pesos.