MEXICO CITY (Reuters) -Walmart’s Mexico unit on Thursday said its third quarter net profit rose more than 20% compared with the year before, reaching 11 billion pesos ($535.3 million).
Walmart de Mexico, the biggest retailer in Mexico, saw revenue increase 6.4%, to 176 billion pesos, slightly above analyst estimates.
The company added that costs grew 5.5% but still came in below revenue growth, while its profit margin expanded to 8.8%.
($1 = 20.6420 at end-September)
(Reporting by Daina Beth Solomon and Noe TorresEditing by Chris Reese)
