By Anthony Harrup
MEXICO CITY--Mexico's biggest retailer, Wal-Mart de Mexico SAB (WALMEX.MX, WMMVY), said Thursday that its net profit grew 1.7% in the fourth quarter as the company increased sales and kept expenses under control.
Walmex, the Mexico and Central America unit of Arkansas-based Walmart Inc., reported net profit of 10.6 billion Mexican pesos ($573 million) in the October-December period, compared with 10.4 billion pesos a year earlier.
Excluding a one-time gain in the year-earlier quarter related to the sale of Walmex's clothing store chain Suburbia, net profit was up 12.5%.
Sales in the fourth quarter rose 6.8% to 168.2 billion pesos, while earnings before interest, taxes, depreciation and amortization, a measure of operating cash flow, increased 9.1% to 16.9 billion pesos.
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(END) Dow Jones Newswires
February 15, 2018 16:55 ET (21:55 GMT)
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