Despite Crisis Grupo Melo Increases Sales

The Panamanian conglomerate reported sales of $60.9 million for the first quarter of 2009, 4.8% more than the same period in 2008.

Wednesday, July 1, 2009

The Poultry Farms and Restaurant divisions were those which reported increases in their sales, not the real estate division.

Reporter Edith Castill Duarte writes in her article for “Grupo Melo is advancing its plans to go into Colombia in the restaurant industry with its chain Pío Pío, and hopes to formalize the plans by the end of the year. The vice-president of finances, planning and treasury, Eduardo Jaspe, said that the division is operating within budget, and that they are in the process of opening seven new restaurants for the local market in distinct points throughout the city.”

More on this topic

Retail Recovers in El Salvador

June 2010

Retail commerce grew 2.5% in March; it had fallen 20.9% in the same month of 2009.

According to the Monthly Economic Activity Index (IVAE), developed by the Central Bank of El Salvador, retail was the single worst performing economic sector during 2009.

The bank remarked that several sectors recovered during March 2010, including commerce, finance, manufacture and agriculture.

Grupo Melo Issues Corporate Bonds

November 2009

The Panamanian company will undertake a $50 million public offer of Revolving Corporate Bonds.

The issue will be global, revolving, normative, registered, without coupons, and in multiple series.

"They will expire up to 10 years after the issue of each series", reported newspaper La Prensa.

Panama: Grupo Melo Sales Up 21%

March 2009

The conglomerate reported sales of $263.5 million for the fourth quarter of 2008, up 21% over the same period in 2007.

The Panamanian group reported its quarterly results to the National Securities Commission which stressed that all departments of the Group, except for timber and real estate had sales increases of more than 10%.

Panamanian restaurant chain plans to enter Colombia

June 2008

The Panamanian restaurant chain Pío Pío plans to sell its franchises in Colombia.

The company has 47 restaurants in Panama. It is part of Grupo Melo, a vertically integrated poultry company whose exports to various countries, including Colombia, total more than four million dollars per year.

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