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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
11/28/201616:21:11Securities Registration: Employee Benefit Plan (s-8)
11/22/201612:08:51Statement of Changes in Beneficial Ownership (4)
11/18/201608:30:00Kimberly-Clark Renews Commitment To Help Solve Global Sanitation...
11/18/201608:30:00Kimberly-Clark Renews Commitment To Help Solve Global Sanitation...
11/16/201610:10:00Kimberly-Clark Names Michael Hsu President, COO
11/16/201609:51:00Kimberly-Clark Names Michael Hsu President and Operating Chief
11/16/201608:41:42Current Report Filing (8-k)
11/16/201608:30:00Kimberly-Clark Appoints Michael Hsu President and Chief Operating...
11/15/201616:05:00Kimberly-Clark Declares Quarterly Dividend and Announces Date...
11/14/201611:15:00Innovative Kimberly-Clark Recycling Program Helps Two Midwestern...
11/01/201612:08:14Statement of Changes in Beneficial Ownership (4)
10/27/201615:27:50Statement of Changes in Beneficial Ownership (4)
10/26/201612:55:00Huggies Brand Launches "No Baby Unhugged" to Ensure Babies Get...
10/25/201619:49:00Le prix « Deal of Distinction Award » décerné à Imaflex et à...
10/25/201619:44:00Deal of Distinction Award Given to Imaflex and Kimberly-Clark...
10/25/201603:03:00Huggies Maker Cuts Forecast -- WSJ
10/24/201611:48:00Kimberly-Clark is Bracing for More Quarters of Sluggish Sales...
10/24/201611:00:49Quarterly Report (10-q)
10/24/201609:20:00Kimberly-Clark Lowers Guidance as Sales Slip
10/24/201608:59:01Current Report Filing (8-k)

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