January 23, 2014 / 10:05 PM / 4 years ago

Mexico's Kimber 4th-qtr profit falls on weak consumer spending

MEXICO CITY, Jan 23 (Reuters) - Paper products company Kimberly-Clark de Mexico said on Thursday its fourth-quarter profit fell 8 percent after heavy discounts failed to win over anxious Mexican consumers.

Kimber, a subsidiary of U.S.-based Kimberly-Clark Corp , said in a statement that profit in the three months to the end of December was 1.12 billion pesos compared with 1.22 billion a year ago.

Revenue in the quarter declined 6 percent to 7.26 billion pesos.

Consumer confidence in Latin America’s No. 2 economy fell to its lowest level in more than two and a half years in December, according to official data.

Kimber, which sells Huggies diapers and Kleenex tissues in Mexico, makes around 87 percent of its sales from consumer products.

Shares in Kimber, which have trailed Mexico’s IPC index so far in 2014, closed down 2.33 pct on Thursday.

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