Breadmaker Bimbo hit by profit slump, cuts earnings outlook
MEXICO CITY: Mexican breadmaker Bimbo’s first quarter net profit fell by about 42% from a year earlier, the company says, citing foreign exchange effects stemming from a strong peso and weaker spending in its North American markets.
Earnings per share hit 0.54 peso, below the 0.73 peso expected from analysts polled by LSEG.
……Read full article on The Star Online - Business
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