MEXICO CITY, Feb 26 (Reuters) - Mexico's Becle
, the world's largest tequila producer, on Wednesday
reported a fourth-quarter profit down 21% from a year earlier,
hit by a significant decline in its sales and volumes in the
United States and Canada.
Cuervo, which makes the bulk of its sales from tequila but
also produces a range of spirits such as Creyente mezcal,
Stranahan's whiskey, Kraken rum and Boodles gin, reported a net
profit of 1.55 billion pesos ($74.3 million), beating LSEG
analysts' estimate of 1.28 billion pesos.
Revenue, meanwhile, landed at 12.9 billion pesos, below
analysts' forecasts of 13.62 billion pesos.
The company's sales in foreign-exchange neutral terms in
the U.S. and Canada were down around 25% in the quarter, while
its volumes in the region decreased close to 20%, Becle said in
a statement.
On potential tariffs to be imposed on Mexico by the U.S.,
the tequila maker said that any renegotiation of trade
agreements or changes in foreign policy in the U.S. could affect
imports and exports with Mexico, and adversely affect the
company.
($1 = 20.8829 pesos at end-December)