Walmex income up 10% in 3rd quarter - FreshFruitPortal.com

Walmex income up 10% in 3rd quarter

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Walmex income up 10% in 3rd quarter

The Mexican subsidiary of Walmart, Walmex, posted a 10% rise in net income in the third quarter, to US $338 million, according the Mexican newspaper El Financiero.

The earnings are below market estimates of $360 million, the newspaper said.

The rise was attributed to ownership of more than 500 stores in Guatemala, El Salvador, Honduras Nicaragua and Costa Rica. The company also has opened 133 sites in 2010.

For the quarter ended September 30, total profits were up 27% compared with the period from July to September in 2009, to US $6.46 billion.

Source: www.freshfruitportal.com

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