date:Oct 31, 2012
Grupo Bimbo - the world's largest bakery - has reported a sharp dip in third-quarter profits as higher wheat prices and costs from the integration of its North American Sara Lee business hit the firms margins.
Profit fell 82% to $28.4 million as Grupo Bimbo heads towards its fourth consecutive decline in annual earnings. The firm blamed rising wheat prices resulting from the worst drought to hit the US for 50 years and the higher cost structure of its Sara Lee North American business, which was