Walmart de Mexico has reported net profit of MXN4.5bn (£232m) for its second quarter, down 3.4% on the previous year.

Net sales increased 9.1% to MXN87.9bn (£4.53bn). EBITDA for the quarter amounted to MXN7.7bn (£397m).

Executive president and chief executive of Walmart de Mexico Scot Rank said the quarter was characterised by significant investment in store openings, remodels, logistics and systems.

He reiterated the company’s commitment to its EDLP strategy across the region, which he said was being implemented consistently across Mexico and Central America.