Reported about 5 hours ago
Becle, the largest tequila producer globally, reported a 21% decline in fourth-quarter profit, predominantly due to a notable drop in sales and volumes in the US and Canada. The company’s net profit reached 1.55 billion pesos, exceeding analyst estimates, but its revenue fell short of expectations. Sales in foreign-exchange neutral terms dropped about 25%, and volumes decreased nearly 20%. The potential impact of changing trade agreements on imports and exports with the US raises concerns for the future.
Source: YAHOO