Economy

Cuervo parent company sees Q3 profit boost amid hikes prices, strong sales By Stocksak


© Stocksak. FILE PHOTO – Jose Cuervo Tequila bottles rest on a shelf in Mexico City. February 8, 2017. REUTERS/Edgard Garrido

MEXICO CITY (Stocksak). -Mexican distiller Becle saw a 29.6% increase in its third quarter net profit Thursday as it increased prices and increased sales of its premium Tequila.

Becle’s net profits rose to 1.71 trillion pesos ($85.2 Million).

The company, which also manages alcohol brands Stranahan’s whisky and Kraken Rum, saw its revenue rise 20% to 11.53 Billion Pesos. This was due to strong sales outside Canada, Mexico, and America.

The adjusted earnings before interest tax, depreciation, and amortization (EBITDA) is an indicator of core earnings. It rose 33% to 2.28 billion pesos.

The firm released a statement saying that it was able to deliver strong results despite the fact that the quarter was still impacted by supply chain disruptions as well as inflationary cost pressures in the sector.

($1 = 20.1271 pesos by end-September)

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Stocksak Editorial

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