Grupo Bimbo’s Profits Plummet 89.2% in Fourth Quarter
Mexico City.- Grupo Bimbo, a leading Mexican bakery company, reported a significant drop in profits for the fourth quarter of the year. According to a statement sent to the Mexican Stock Exchange (BMV), the company’s profits fell by 89.2 percent year-on-year, reaching 3.26 billion pesos (about 192 million dollars).
The company also indicated that its total income decreased by 6.5 percent to 101,883 million pesos, compared to the same period in 2022. Grupo Bimbo, which has a presence in more than 30 countries across America, Europe, Asia, and Africa, attributed the decrease in profits to various factors affecting its global operations.
Despite the challenging economic environment, Grupo Bimbo remains a major player in the bakery industry and continues to expand its presence internationally.
The news of Grupo Bimbo’s declining profits comes from information provided by Reuters.