Mexican poultry producer and processor Industrias Bachoco S.A.B. de C.V announced unaudited results for the first quarter ended March 31, 2010.

Highlights reported on PR Newswire include:

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  • 1.1% total sale increase over Q1 2009.
  • increase of 16.6% for 2009’s Q1 in chicken sales with additional increases for table eggs and swine,
  • 8.6% lower EBITDA margin compared to 11.2% in Q1 2009,
  • earnings per share for the quarter reached Ps.$ 0.458, compared to Ps.$ 0.457 in 1Q 2009.

"While the economic conditions prevailing in Mexico continued to slowly improve, we observed a good demand for our products, impacting our first quarter results and showing an improvement from the previous year in terms of sales and volume sold,” said Cristobal Mondragon, Bachoco's CEO.

"Our results were strong and sound, while our financial position remained solid even after the investments made during the past quarters."