Wal-Mart de Mexico Q1 profit up 19%

Mexico City Wal-Mart de Mexico SA said its first-quarter profit rose 19% to 4.1 billion pesos ($336 million), as the firm opened 20 stores and consolidated the results from its recently acquired Central American operation.

The company said its revenues grew 17% in the quarter as compared with the same period of 2009, to 72 billion pesos ($5.9 billion).

The Mexican unit of Wal-Mart Stores said in a statement Thursday that operating income grew even faster than sales, rising 21% to 5.73 billion pesos ($470 million).

Walmex, as the company is known, acquired Wal-Mart Central America in December.