Kimberly-Clark de Mexico's 4Q net profit fell by 36%
Jan 23, 2009. /Lesprom.com/. Mexico's leading paper products company, Kimberly-Clark de Mexico said its 4Q net profit fell 36%, hurt by a weak peso, but sales rose.
Jan 23, 2009. /Lesprom.com/. Mexico's leading paper products company, Kimberly-Clark de Mexico said its 4Q net profit fell 36%, hurt by a weak peso, but sales rose. Kimberly-Clark de Mexico has said it earned 651 million pesos ($47 million) in the quarter ended in December, compared with 1.023 billion pesos ($73 million) in the same period of 2007, informed Lesprom Network according to the Reuters.
"Unfortunately, the international financial crisis caused a sudden devaluation of the peso, which had a negative impact on net profit," Kimberly-Clark de Mexico said in a release.
Quarterly revenues rose 14% to 6.108 billion pesos ($436 million), a combination of price increases and higher demand for Kimberly-Clark de Mexico products.