Industrias Bachoco sales up 6.6% for 2010
Earnings per share up to Ps. 3.34 from Ps. 1.35 in 2009
Mexico-based Industrias Bachoco S.A.B. de C.V. has released its numbers for the fourth quarter and the full 2010 year, showing a 9.9% rise in fourth-quarter sales over 2009 numbers (Ps. 6.4 billion, up from Ps. 5.8 billion) and a 6.6% rise in sales for all of 2010 (Ps. 24.8 billion, up from Ps. 23.3 billion).
Fourth-quarter 2010 chicken sales were up significantly over the same quarter in 2009, increasing by 14.9%. This is mostly attributable to a 17.8% increase in chicken prices, which offset a 2.5% decrease in volume sold. Egg sales decreased by 15.2% during the fourth quarter, as egg prices decreased 10.6% and volume fell by 5.1%. "The fourth quarter is typically a good quarter for the company and this year was not the exception; we recorded solid results," said CEO Rodolfo Ramos. "Our chicken business line performance was strong during the quarter; we observed a good demand and prices were sound. Our egg business line continued to be affected by oversupply conditions; nevertheless, prices and volume showed some recovery when compared with previous quarters."
Earnings per share for 2010 reached Ps. 3.34, up from 2009's Ps. 1.35. "We recorded a successful year for the company in 2010," said Ramos. "We achieved our goals and set a solid basis to face a challenging 2011. We trust our team which, along with the continuous improvement of our processes and an adequate administration of our raw materials inventories, will lead us to achieve new goals."