Mexico’s Bimbo to Increase its 2022 Investment to $1.5B

Reuters Bakery February 24, 2022

MEXICO CITY – Mexican breadmaker Grupo Bimbo reported a 66.9% increase in fourth quarter net profit on Tuesday, driven by strong sales, lower financing costs and an effective income tax rate.

Grupo Bimbo’s (BIMBOA.MX) earnings jumped to 4.8 billion pesos ($235 million) in the October-December period, beating the Refinitiv estimate of 3.3 billion pesos ($162 million).

Revenue for the company, which operates some 100 brands, climbed 14.9% in the last three months of 2021, driven by a mix of favorable prices.

To read the rest of the story, please go to: Reuters

Related Articles

No Picture
Bakery

Bimbo Canada Becomes First National Bakery in North America to Introduce Compostable Bread Bag Clips

Bimbo Canada Bakery April 12, 2022

Bimbo Canada is taking an important step towards achieving a circular economy by transitioning plastic bread bag tags to compostable, cardboard bread bag clips on all bread products including Dempster’s®, Villaggio®, POM®, Bon Matin®, Ben’s®, and Stonemill®. This small, yet impactful change will begin immediately and will begin and is anticipated to be complete by June, 2022. …

Bakery

Ohio Senator Brown Tours Bimbo Bakery, Meets With Union Workers

Office of US Senator Sherrod Brown Bakery October 15, 2021

1 U.S. Sen. Sherrod Brown (D-OH) toured a Bimbo Bakeries manufacturing plant and joined leaders and employees to discuss pension relief he helped secure for Ohio workers, retirees, and small businesses in the American Rescue Plan. Employees at the facility are represented by the Bakery, Confectionery, Tobacco Workers and Grain Millers’ (BCTGM) International Union Local 57, and will benefit from Brown’s pension fix. …