For the fourth quarter, Grupo Elektra’s gross profit was MXN5.22 billion, 13% higher than the MXN4.61 billion reported during the corresponding period in 2006. The gross margin in the quarter was 48%, compared with 46% reported in 2006.
The company’s operating profit was MXN1.17 billion in the fourth quarter of 2007, compared with MXN1.55 million a year ago, as a result of the combination of higher consolidated revenue, and higher total costs and operating expenses.
Total consolidated revenue in 2007 has increased 8% to MXN39.03 billion, compared with MXN36.14 billion in 2006. Gross profit of the company for the period was MXN19.41 billion, representing 11% increase over the gross profit of MXN17.43 billion in the prior year.
Carlos Septien, CEO of Grupo Elektra, said: 2007 was a year of growth through which we implemented strategies to further enhance our long-term expansion. Our dynamic operations translated into solid performance of the consolidated revenue and gross profit in 2007.
Closely related to the expansion efforts, towards the end of the year there were extraordinary expenses, which will translate into an improve positioning in Latin America, and in the consolidation of our new businesses.
