Industrias Bachoco S.A.B. de C.V. has released its third quarter results for 2010.
The company's sales were up 12.2% (6.30 billion Pesos) when compared with 2009 (5.61 billion Pesos), a somewhat unexpected number given past third-quarter history. "The third quarter of the year was traditionally the weakest quarter for our company, but this quarter it was quite different," said CEO Cristobal Mondragon. "We had a good balance between supply and demand in our chicken business line, which allowed us to capitalize our productivity and supply efforts and achieve stronger results during the third quarter."
The company's chicken segment saw the greatest growth, with sales increasing by 17.7% when compared to the third quarter of 2009. Table egg product sales decreased by 11.7% and balanced feed dropped 6.5%. Swine sales, however, showed a solid increase of 36.9% due to a combination of increased prices and volume.