Mexico’s Grupo Bimbo Rises To Record High On Profit

Grupo Bimbo, the worlds largest bread maker, extended a rally to six days
and closed at a record after reporting fourth-quarter profit rose 38 percent.

Bimbo gained 1 percent to 99.65 pesos in Mexico City trading, the highest price
on record. Shares have rallied 6.9 percent since the company reported
fourth-quarter earnings on Feb. 25 after markets closed.

The Mexico City-based baker said fourth-quarter profit rose 38 percent to 1.76
billion pesos ($139.3 million), from 1.27 billion pesos in the year-earlier
period, as operating margins increased from Mexican and U.S. operations. Bimbo
became the worlds largest bread maker after acquiring George Weston Foods
Ltd.s U.S. operations for $2.4 billion in January 2009.

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