April 13, 2018 / 12:44 AM / 4 months ago

Mexican breadmaker Bimbo sees better profitability, margins in 2018

MEXICO CITY, April 12 (Reuters) - Mexican breadmaker Grupo Bimbo expects to see margin expansion and increased profitability by end of 2018, Chief Financial Officer Diego Gaxiola told Reuters in an interview on Thursday.

The company, which has operations in 32 countries, will see its consolidated tax rate fall by 6 percentage points due to the U.S. tax reform, Gaxiola said. Bimbo's consolidated tax rate was 53 percent at the end of 2017. (Reporting by Anthony Esposito Editing by Christine Murray)

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