Cuervo parent company Becle reports 9.4% increase in Q1 net profit

div classBodysc17zpet90 cdBBJodivpMEXICO CITY Reuters Mexican distiller Becle, better known as the parent company of the popular Jose Cuervo tequila brand, posted a 9.4 increase in firstquarter net profit driven by increased sales, particularly in tequila, the company said in a statement on Thursday.p

pBecles net profit rose to 1.35 billion pesos 67.9 million.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pRevenue for the company, whose portfolio includes dozens of wellknown alcoholic beverage brands, climbed 26.5 yearonyear to 9.07 billion pesos as demand increased, particularly in the United States and Canada. Earnings before interest, tax, depreciation and amortization EBITDA for the quarter rose to 2.19 billion pesos. Analysts at Mexicos CI Casa de Bolsa said in a February report that they had a “moderate” outlook for Becle in 2022, though the distiller had “latent risks and comparative bases that are difficult to overcome, particularly in sales.” Becle executives said last quarter they expected to raise prices throughout the year to deal with supply chainrelated pressures. 1 19.8911 pesos by endMarchp

p Reporting by Kylie Madry and Noe Torres Editing by Sandra Maler, Bernard Orrp

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