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Kimberly-Clark De Mexico 2Q Net Profit Down 9% To MXN980 Million

MEXICO CITY -(Dow Jones)- Mexican consumer products company Kimberly-Clark de Mexico said Thursday that its sales and profits fell in the second quarter on weak demand and higher costs. The unit of Kimberly-Clark Corp. (KMB) said its net profit declined 9% from the second quarter of 2010 to 980 million pesos ($83.7 million), or MXN0.93 per share. Sales were 3% lower at MXN6.41 billion, and operating profit fell 9% to MXN1.65 billion. "Second quarter results were disappointing," the company said in a release. "We continued to face sluggish domestic demand. In addition, promotional activity by our customers was significantly reduced during the quarter and clients reduced inventories in response to market performance and credit collection risks." Results were also affected by higher raw materials and energy costs, which were only partially offset by higher prices and cost-cutting efforts. Kimberly-Clark de Mexico makes diapers, tissues, napkins and other health and hygiene products. The company made capital expenditures of MXN1.84 billion in the quarter, and spent MXN778 million on stock repurchases. Kimberly-Clark de Mexico series A shares traded on the Mexican stock market closed down 0.1% at MXN73.88 Thursday ahead of the report, midway between their 12-month high of MXN81.75 and 12-month low of MXN65.50. -By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176; anthony.harrup@dowjones.com

Stock News for Kimberly Clark (KMB)
DateTimeHeadline
06/17/201612:14:28Annual Report of Employee Stock Plans (11-k)
06/16/201617:16:12Statement of Changes in Beneficial Ownership (4)
06/16/201615:23:13Initial Statement of Beneficial Ownership (3)
06/16/201608:03:00Huggies Brand Continues Efforts to "Wipe Out" Diaper Need
06/15/201617:27:57Current Report Filing (8-k)
06/15/201617:19:00Kimberly-Clark Elects Christa Quarles to its Board of Directors
06/15/201611:15:00New C.H.E.S.S. Program from Kimberly-Clark Professional Helps...
06/14/201616:43:20Automatic Shelf Registration Statement of Securities of Well-known...
06/14/201610:00:00Kimberly-Clark Names Chief Marketing Officer
06/09/201613:15:00Kimberly-Clark Professional Expands RightCycle, the First Large-Scale...
06/03/201610:30:00Kimberly-Clark Wins Two Effies at 48th Annual Effie Awards Gala
06/01/201611:15:00Kimberly-Clark Professional Introduces Scott Essential: The First...
05/27/201609:46:47Specialized Disclosure Report (sd)
05/19/201610:02:00Kimberly-Clark to Webcast its Participation in the 2016 Bernstein...
05/16/201609:49:00Kimberly-Clark Names Chief Information Officer
05/13/201610:53:12Statement of Changes in Beneficial Ownership (4)
05/13/201610:53:12Statement of Changes in Beneficial Ownership (4)
05/13/201610:52:46Statement of Changes in Beneficial Ownership (4)
05/13/201609:30:00U by Kotex Launches "The Period Projects"
05/09/201610:15:58Statement of Changes in Beneficial Ownership (4)

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