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Mexico Carso Q3 sales up on industrial gains

MEXICO CITY, Oct 28 (Reuters) - Mexican conglomerate Grupo Carso posted higher sales and earnings for the third quarter as its industrial unit began bouncing back from economic doldrums, though net profit fell.

Carso, a retail and industrial conglomerate, said its net profit was 156 million pesos ($14 million), down from 249 million pesos in the third quarter last year and below the 380 million pesos forecast by analysts in a Reuters survey.

Earnings before interest, taxes, depreciation and amortization (EBITDA), considered by some analysts as a more reliable indicator of profitability in Mexico than the bottom line, rose 3 percent in the quarter to 2.364 billion pesos, higher than analysts' estimates.

Revenues rose 5.9 percent to 13.866 billion pesos, also beating analysts' expectations.

"The stability of the retail sector, along with the recovery of the industrial sector, contributed to the improvement of financial results," Carso said in a statement.

($1=11 pesos at end of third quarter)