Mexican breadmaker Bimbo reports 3rd-qtr profit quadruples

Reuters

MEXICO CITY, Oct 23 (Reuters) - The world's largestbreadmaker, Mexico's Grupo Bimbo, on Wednesday saidits third-quarter profit more than quadrupled, helped by highersales, falling raw materials prices and more efficient globaloperations.

The company, whose brands include Thomas' English Muffins,Entenmann's cakes and Tia Rosa tortillas, said in a filing withthe Mexican stock exchange that quarterly profit climbed to1.527 billion pesos ($116 million) compared to 368 million pesosin the same quarter a year ago.

A weaker Mexican peso helped the company said increasingefficiencies in its U.S. operations also helped profits rise.

Grupo Bimbo's revenue rose 3.8 percent to 45.152 billionpesos.

Shares in Bimbo closed down 1.07 percent at 41.47 pesosbefore the company reported its third-quarter results.

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