Wal-Mart de Mexico (Walmex), the Mexican arm of US retail giant Wal-Mart, has reported on a positive third quarter (Q3) of the year, with net profit jumping 18 per cent to hit US$286m from US$245m.
The results were boosted by low-price promotions, which helped the group boost sales despite the economic slowdown, according to Reuters.
Revenue through the three-month period increased by 12 per cent to US$4.8bn, with earnings before interest, tax depreciation and amortisation (EBITDA) up 17 per cent to US$480m.
As of the end of the third quarter, Walmex operated 1,334 stores and restaurants across Mexico.
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