Wal-Mart de Mexico posts nine percent drop in second-quarter profit

Mexico's Wal-Mart de Mexico on Tuesday reported second-quarter net profit was down 9.2 percent from the same period last year, due to a one-time gain during the year-earlier quarter.

The company, known as Walmex, posted a second-quarter net profit of US$339 million.

During the second quarter of last year, Walmex sold its banking unit to Grupo Financiero Inbursa.