Industrias Bachoco announces Q2 results
Industrias Bachoco S.A.B. de C.V. announced its unaudited results for the second quarter of 2012. All figures have been prepared in accordance with International Financial Reporting Standard, and are presented in nominal million Mexican pesos.
The Company's 2Q12 net sales totaled Ps. 9,404.0 million, 42.1% higher than the Ps. 6,616.8 million reported in 2Q11. This resulted from increased sales throughout all business lines:
In particular, an increase in chicken sales of 48.3% in 2012 vs. 2011, due to the integration of the subsidiary "OK Foods" (production facility in the US), which was consolidated into Bachoco in November of 2011.
Table egg sales were up 12.7% in 2Q12 vs. 2Q11, as a result of a 10.6% increase in prices (prices were down 13.0% when compared to 1Q12) and a 1.9% rise in volume sold.
Bachoco's balanced feed business line rose 5.1%, as a result of a 14.5% price increase, partially offset by an 8.2% decline in sales volume as a result of more supply and higher commodity prices.
The line item "other business lines", which includes swine, turkey and beef value-added products, as well as by-products, grew 37.7%. This increase was mainly due to the growth in value-added beef products, resulting from the integration of the newly acquired plant located in Monterrey during the second half of 2011, as well as higher by-product sales.
Source: Industrias Bachoco S.A.B. de C.V.