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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
09/01/201511:04:49Initial Statement of Beneficial Ownership (3)
09/01/201509:00:00Viva Brand and Alyssa Milano Transform Your Countertop from Flat...
08/26/201510:19:00Kimberly-Clark to Webcast Presentation and Q&A at Barclays Global...
08/24/201509:00:00National Diaper Drive to Collect 100,000 Diapers to Help Families...
08/18/201516:41:51Current Report Filing (8-k)
08/06/201515:32:23Current Report Filing (8-k)
08/04/201517:20:33Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
08/04/201512:46:13Statement of Changes in Beneficial Ownership (4)
08/03/201517:15:24Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/03/201512:00:00Kimberly-Clark Declares Quarterly Dividend
08/03/201509:03:43Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
07/27/201513:02:00Kimberly-Clark Corporation Releases Annual Sustainability Report
07/24/201516:08:40Confidential Treatment Order (ct Order)
07/23/201513:25:20Kimberly-Clark Raises Guidance Despite Currency Volatility...
07/23/201511:00:27Quarterly Report (10-q)
07/23/201509:00:07Kimberly Clark Raises Guidance Despite Currency Volatility
07/23/201508:49:18Kimberly Clark Raises Guidance Despite Currency Volatility
07/23/201508:25:59Current Report Filing (8-k)
07/23/201507:30:00Kimberly-Clark Announces Second Quarter 2015 Results
07/20/201514:00:47Kimberly-Clark Woos Truckers with Promise of Clean Bathrooms

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