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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
04/23/201521:17:20Higher Prices Fail to Salvage Profits
04/23/201516:33:12Statement of Changes in Beneficial Ownership (4)
04/23/201516:32:21Statement of Changes in Beneficial Ownership (4)
04/22/201517:43:35Kimberly-Clark Jumps on Earnings: What Investors Need to Know
04/22/201510:28:08Kimberly Clark Corp PT Raised to $118.00 at Deutsche Bank (KMB)
04/21/201516:10:17Kimberly-Clark Sales Fall -- Update
04/21/201513:40:02Kimberly-Clark Trims Costs Amid Currency Woes
04/21/201511:20:17Quarterly Report (10-q)
04/21/201508:30:10Kimberly-Clark Sales Fall, But Top and Bottom Lines Beat Views
04/21/201508:08:14Current Report Filing (8-k)
04/21/201507:15:00Kimberly-Clark Announces First Quarter 2015 Results
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04/07/201509:30:00Kimberly-Clark to Webcast 1st Quarter 2015 Earnings Conference...
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04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)
04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)
04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)
04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)
04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)
04/06/201516:52:15Statement of Changes in Beneficial Ownership (4)

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