Bimbo Posts Drop In Q2 Profit

Mexico's Grupo Bimbo SAB

reported a decline in its net profit for the second quarter. Bimbo's quarterly net profit fell to 887.9 million pesos ($65.3 million), from MXN895.5 million, in the year-ago quarter. Its sales surged 43% to MXN43.3 billion. Sales in Mexico climbed 12% to MXN17.1 billion, while US sales jumped 80% to MXN20.7 billion. Bimbo shares closed at $2.30 yesterday.