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Jose Cuervo parent firm Becle posts 72% surge in Q4 profit as sales jump -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This picture illustrates how bottles of Jose Cuervo, Herradura and Tequila 1800 are displayed in a bar. It was taken on April 4, 2019. REUTERS/Luis Cortes/Illustration

MEXICO CITY (Reuters] – Mexican distiller Becle has reported a nearly three quarters increase in net profit due to strong sales across the country.

Becle’s quarterly earnings increased 72%, to 1.6 Billion Pesos (or $77 Million), exceeding the Refinitiv estimate at 1.2 Billion.

The company’s revenue, which includes over 30 brands of alcoholic beverages, increased 22% to 13.1 billion pesos year-on-year, thanks to strong demand, even though supply chain restrictions were imposed by coronavirus pandemic.

The quarter’s earnings before interest, taxes, depreciation, and amortization (EBITDA), rose to 2.3 million pesos. This is well above the Refinitiv estimate at 1.9 billion.

Analysts Barclays LON: had stated in mid-January that company was well placed to profit through 2022.

($1 = 20.5075 pesos at end-December)

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