MONTERREY, Mexico, July 23, 2015 /PRNewswire/ -- Grupo Famsa, S.A.B. de C.V. (BMV: GFAMSA) has announced today its non-audited financial statements of the second quarter of 2015 (2Q15) with figures as of June 30, 2015.
Humberto Garza Valdez, Grupo Famsa's CEO, commented on the quarterly results: "Grupo Famsa continued to post a robust sales recovery, supported by a proficient credit origination and a successful promotional strategy. Outstanding growths during the second quarter of 2015 of 12.2% in consolidated Net Sales and of 24.3% in consolidated Operating Cash Flow (EBITDA), the highest posted in the past four years, are worthy of note."
The Company has strengthened Banco Famsa's operations over the past quarters by implementing upgraded processes for granting new credits and the timely management of the credit portfolio. As a result, there has been a significant reduction in the risk associated with its credit portfolio, positively impacting the Non-performing Loans Ratio (NPL). During 2Q15 this indicator registered a remarkable 570 basis points decline, falling from 17.6% as of June 30, 2014 to 11.9% as of June 30, 2015. It is noteworthy this level is the lowest that Banco Famsa has posted in the past three years.
For the second half of 2015, we continue to be optimistic about the future and confirm Grupo Famsa's consolidated EBITDA for the year will be in line with the high end of the 2015 Guidance communicated in February of this year.
With regard to our expansion plans, during the months of January to June 2015 we inaugurated 5 stores, four in Mexico and one in the United States, as well as five banking branches. During the coming months, we intend to expand Grupo Famsa's presence with the opening of 10 new stores and 10 banking branches, with facilities adapted to the image and format of our already-established stores.
Paloma E. Arellano Bujanda
Tel +52(81)8389-3400 ext. 1419
SOURCE Grupo Famsa, S.A.B. de C.V.