Industrias Bachoco reported a second-quarter net income of Ps. 138.4 million (US$11.8 million), compared to 2010's Ps. 618 million (US$52.8 million).
Chicken products sales for the second quarter increased 6.9% compared to the same quarter in 2010, which resulted from a 6.5% increase in sales volume and 0.4% higher prices as demand for chicken products remained strong during the period. Sales of table eggs declined 4.9%, driven by a 3.1% drop in sales volume and 1.8% lower prices. This weaker performance reflects the oversupply that continues to affect the Mexican egg market.
Net income for the first half of 2011 came in at Ps. 293.7 million (US$25.1 million), down from 2010's Ps. 894 million (US$76.4 million).
