Due
to the divestiture of the Writing and Printing Papers
and Notebooks businesses that was completed on October
27, 2006 and, in accordance with the guidelines
established by the Mexican Financial Information
Norms; the Financial Statements being presented
include the detail of the operations of the Consumer
Products Business (PROCON) that are the continuing
operations plus a summary of the results from the
divested business as a separate line item denominated
"Discontinued Operations". |
Due to the resolution adopted by the Extraordinary
Shareholder’s Meeting held on September
28th., 2006, regarding the divestiture of the
Writing and Printing Papers and notebooks businesses
and in accordance with the guidelines established
in the Mexican Financial Information Norms, the
financial statements being presented include the
operations of the Consumer Products (PROCON) Business,
showing the divested business as a separate line
called “Discontinued Operations” and
finally the total Net Income for the entire corporation. |
On
September 28th, 2006, Kimberly Clark de México,
S.A.B. de C.V. celebrated it's Extraordinary Shareholders
Meeting approving every item on the agenda. The
sale of the industrial products Division (PRODIN)
was approved and all necessary power of attorney
were granted in order to close the transaction as
early as possible. Additionally, an extraordinary
cash dividend was approved and the amount and date
of payment will be determined by the Board of Directors
at a late date. |
During an extraordinary meeting held on September
6th. 2006, the Board of Directors of Kimberly-Clark
de Mexico, S.A.B. de C.V (Kimberly), approved
the execution of an Investment Contract (the “Contract”)
with a Trust (the “Trust”) whose settlors
are Impulso de Desarrollos Estratégicos,
S.A. de C.V. and the Eton Park Fund, an international
investment fund. |
- Results for the second quarter in Kimberly
Clark de México (KCM) were very strong,
posting real and increasing growth rates year
over year in sales, operating profit and net income.
- The growth in units sold was greater than 8%,
driven mainly by the superior performance of the
consumer products which grew close to 11% year
over year.
- Price and mix improved overall in both consumer
and industrial products. Export sales volume was
strong with prices slightly below those of one
year ago. |
- For the fifteenth consecutive quarter we are
reporting net sales growth in real terms. The
growth in units sold was close to 10 percent above
the prior year, driven mainly by the superior
performance of the consumer products group which
grew 14 percent.
- For the eighth successive quarter, operating
profit showed an increase versus the prior year
in real terms and was higher than the growth in
net sales.
- In the first quarter of the year we were still
negatively impacted by the effects of the appreciation
of the exchange rate over a long position that
still existed until February in foreign currency. |
On March 1st, 2006, Kimberly Clark de México,
S.A. de C.V. celebrated it’s Annual Ordinary
Shareholders Meeting approving all points of the
Assembly agenda. The payment of a cash dividend
for $2.24 to be paid in four equal installments
during the 2006, a 7.7% increase compared to last
year, was approved as expected |
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