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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
02/23/201717:03:12Statement of Changes in Beneficial Ownership (4)
02/22/201717:47:16Statement of Changes in Beneficial Ownership (4)
02/22/201717:46:50Statement of Changes in Beneficial Ownership (4)
02/22/201717:46:02Statement of Changes in Beneficial Ownership (4)
02/17/201709:31:18Initial Statement of Beneficial Ownership (3)
02/17/201709:31:18Initial Statement of Beneficial Ownership (3)
02/17/201709:31:18Initial Statement of Beneficial Ownership (3)
02/14/201710:57:00Kleenex® Exfoliating Cushions Voted Product of the Year 2017
02/10/201709:21:59Amended Statement of Ownership (sc 13g/a)
02/08/201712:08:37Annual Report (10-k)
02/02/201717:00:58Statement of Changes in Beneficial Ownership (4)
02/01/201714:45:00New Huggies Brand Diaper Innovation to Help the Smallest Babies
02/01/201713:23:00New Huggies Brand Diaper Innovation to Help the Smallest Babies
01/27/201709:17:00Make Pelvic Health a Priority this New Year with Poise Brand
01/25/201714:48:51Amended Statement of Ownership (sc 13g/a)
01/24/201713:35:00Kimberly-Clark Records Small Sales Gain Amid More Competition
01/24/201708:41:34Current Report Filing (8-k)
01/24/201708:35:00Kimberly-Clark Records Small Sales Gain Amid More Competition
01/24/201707:15:00Kimberly-Clark Announces Year-End 2016 Results And 2017 Outlook
01/10/201711:00:00Kimberly-Clark to Webcast 4th Quarter and Full-Year 2016 Earnings...

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