San Pedro Garza García / MX. (gr) According to Mexico’s Gruma S.A.B. de C.V. the first quarter (Q1-2021) reflected continued demand for the group’s retail products in the U.S., while the company witnessed a paced recovery in the global food service industry towards pre-pandemic levels. The trends that favor value-added tortillas and their derivative products continue and remain strong in the U.S., and the tortilla as a whole is gaining greater acceptance as a versatile, healthier and convenient product to include in the diets of Hispanic and non-Hispanic families. Of note, sales, Ebit, Ebitda and net income, have generated compounded annual growth rates of 9 percent, 12 percent, 10 percent, and 13 percent respectively, that along with other positive financial indicators relative to Q1-2019, showcase the company’s strong and consistent growth since before the pandemic. The group strictly scrutinizes costs and is managing the rising cost of corn, as volatility has continued over the year, – Gruma S.A.B. de C.V. reports in its quarterly statement for the first three months 2021.
For additional information please read the Company’s PDF file below (235 KB):20210424-GRUMA-Q1-2021