Wal-Mart de Mexico Profit Rises 23% in Fourth Quarter
February 15 2017 - 5:25PM
Dow Jones News
By Anthony Harrup
MEXICO CITY -- Net profit at Wal-Mart de Mexico SAB rose 23% in
the fourth quarter on higher sales and cost control efforts.
Mexico's biggest retailer, which also runs stores in Central
America, on Wednesday reported net profit for the October-December
quarter of 10.4 billion Mexican pesos ($514 million), compared with
8.5 billion pesos a year earlier.
Revenue increased 12% to 157.5 billion pesos and earnings before
interest, taxes, depreciation and amortization, or Ebitda, a
measure of operating cash flow, climbed 21% to 15.5 billion pesos
from the fourth quarter of 2015.
The quarter closed a solid year for Walmex, as the unit of
Bentonville, Arkansas-based Wal-Mart Stores Inc. is known.
Full-year sales grew 12% from 2015, thanks to strong household
consumption in Mexico, where employment and wage growth were
coupled with low inflation, and to gains in Central American
currencies against the Mexican peso.
The results were roughly in line with the median estimates of
analysts polled by The Wall Street Journal, which called for net
profit of 10 billion pesos on sales of 157.5 billion pesos and
Ebitda of 15.8 billion pesos.
Walmex shares traded on the Mexican stock exchange slipped 0.1%
before the release of the earnings.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
February 15, 2017 17:10 ET (22:10 GMT)
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