July 19, 2018 / 5:14 PM / a month ago

Walmex 2nd-qtr revenue seen rising on World Cup, election sales

    MEXICO CITY, July 19 (Reuters) - Wal-Mart de Mexico's
 revenue is expected to rise 7.6 percent
year-over-year in the second quarter, helped by strong
consumption driven by the World Cup and local elections,
according to a Reuters poll of analysts.
    Wal-Mart de México, known as Walmex, is expected to rake in
total revenues of 146.1 billion pesos ($7.35 billion), according
to the average estimate of eight specialists in the sector. 
    The company's earnings before interest, tax, depreciation
and amortization (EBITDA), a closely watched measure of
profitability, is expected to reach 13.8 billion pesos, up 10.6
percent from the same quarter last year.
    Nevertheless, the company's net profit is expected to fall
42.1 percent due to a difficult comparison with the second
quarter of 2017, when Walmex logged the sale of its Suburbia
clothing stores, analysts said.
    The company, which operates in Mexico and Central America
and is controlled by the U.S. retail giant Wal-Mart Stores Inc.
, will report its second quarter results on July 25 after
the market closes.
    The following table shows the average expectations of
analysts, in millions of Mexican pesos: 
    
                 2018     2017
                 APR-JUN  APR-JUN
 Net revenue     146,065  135,724
 EBITDA          13,784   12,466
 Operating       10,651   9,657
 profit                   
 Net profit      7,805    13,479
 (1 dollar = 19.873 Mexican pesos at the end of June)


 (Reporting by Noe Torres and Sheky Espejo
Writing by Julia Love
Editing by Chris Reese)
  
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