Grupo Carso profit falls due to its Philip Morris stake sale



Mexico City, February 27th, 2014.- Grupo Carso announced today its results for the fourth quarter and full year 2013, highlighting a drop to 1 thousand 930 million pesos in the three months to end-December, down from 2 thousand 540 million pesos a year earlier.


Quarterly sales of the Retail division and the Industrial division grew 3% and 2.2%, reaching 13 thousand 91 million pesos and 6 thousand 394 million pesos, respectively. Cumulative sales of Grupo Carso posted a 3.1% increase reaching 85 thousand 871 million pesos. Revenues of Infrastructure and Construction rose 12.9% while revenues of Retail rose 2.8% during 2013.


During the 4Q13, consolidated sales of Grupo Sanborns totaled 13 thousand 91 million pesos, which meant 387 million pesos more than in the 4Q12 or a 3% growth. Sales of Grupo Condumex increased 2.2% from October to December 2013 totaling 6 thousand 394 million pesos



On a cumulative basis, operating income and EBITDA grew 89.8% and 78.0% respectively, due mainly to the recording of 7 thousand 589 million pesos related to the sale of the 20% equity stake in Philip Morris Mexico, transaction which was completed in September 30, 2013.


Mexican Business Web via Grupo Carso

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