Mexico's Vitro first quarter net profit up sharply on higher sales

Mexican glassmaker Vitro SAB said its net profit grew to $21 million in the first quarter, up from $2 million a year earlier on higher sales and operating profit, according to a May 3 report in The Wall Street Journal.

Vitro, which is in the midst of a controversial debt-restructuring, said Monday its sales in the quarter grew 13 percent to $480 million, with flat glass sales up 3 percent, and glass containers sales 22 percent higher than in the first quarter of 2010, the report states.

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