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UPDATE 1-Breadmaker Bimbo's revenue jumps but debt costs rise
July 25, 2012 / 10:41 PM / in 5 years

UPDATE 1-Breadmaker Bimbo's revenue jumps but debt costs rise

* Q2 profit 888 mln pesos vs 895 mln pesos yr ago

* Revenue up 43 pct to 43.266 bln pesos (Adds revenue, detail on acquisitions)

MEXICO CITY, July 25 (Reuters) - Mexico’s Bimbo, the world’s largest breadmaker, on Wednesday said its second-quarter profit fell 0.8 percent a s de bt costs rose offsetting a sharp increase in revenue.

Quarterly profit slipped to 888 million pesos ($66.6 million) from 895 million pesos in the same quarter a year earlier.

Revenue in the second q uarter rose 43 percent to 43.266 b illion pesos from 30.164 billion pesos a year earlier, helped by Bi mbo’s re cent acquisitions.

The company last year bought Sara Lee Corp’s o perations in Spain and Portugal, and Alimentos Fargo, a breadmaker in Argentina.

Bimbo is also integrating Sara Lee’s North American fresh bakery unit, which it a greed to buy at the e nd of 2010. T hat deal closed late last year after the company agreed to certain divestitures to win the blessing of the U.S. Justice Department.

Bimbo shares closed up 0.13 percent at 31.25 pesos in local trading.

$1 = 13.3396 at end June Reporting by Elinor Comlay; Editing by Diane Craft

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