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Bimbo profits fall

This article was originally published in Foodnews

GRUPO Bimbo, the Mexican food company, recorded a sharp decline in first-quarter profits, hurt by higher financing and raw material costs. Net profits tumbled 47% to USD46.0 million, compared with the year-ago period. However, the company, which operates in 18 countries including the Americas, Asia and Europe, saw sales during the quarter jump 40%, driven by 12% organic growth.

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