MEXICO CITY, Oct 22 (Reuters) -
Mexico's Becle, the world's largest tequila
producer, on Wednesday posted a nearly fivefold jump in its
third quarter profit, surpassing forecasts, as sales surged in
all regions barring the U.S. and Canada.
Becle, which makes the bulk of its income from Jose
Cuervo family tequilas as well as a range of mezcals, vodkas,
gins and whiskeys, said in a statement it had delivered solid
results and further strengthened its financial position,
"despite continued volatility in the global spirits industry."
Profits for July through September hit 4.13 billion
pesos ($225 million), well above the 1.27 billion forecast of
analysts polled by LSEG, from revenues that held steady at 10.92
billion - broadly in line with analysts' 10.95 billion estimate.
Profits were helped by a stronger peso that helped reduce
its dollar-denominated debt exposure.
While Becle shot up the volumes it sold across Mexico
and most of its international markets by close to 20% compared
to a year earlier, volumes declined 6% in the United States and
Canada - where it typically makes around 60% of sales.
Mexico's spirits sector, which relies heavily on exports
to the United States, has been rattled this year by a series of
tariff threats from Washington, hitting small-scale distillers
the hardest.
Most industries in Latin America's No. 2 economy have
nevertheless been spared the brunt of U.S. tariffs thanks to a
free trade pact between the three countries, but this is up for
review next year.
Last year, U.S. imported $5.3 billion of tequila,
according to the U.S. Distilled Spirits Council, up more than
14% in a year and surpassing all its whiskey, gin, rum, brandy
and vodka imports combined.
($1 = 18.3147 Mexican pesos at end-September)