Profits for the first three months of 2024 were just over €57 million, confirming a drop of 1 percent, while sales fell by 7 percent. However, despite lower volumes and the negative effect of the Mexican currency against the US dollar, the group, whose main product is José Cuervo Especial, exceeded the results predicted by analysts. “We entered 2024 with momentum despite challenging macroeconomic conditions and slowing consumption in several of our markets,” the company reported in a note. The company increased its volumes in its largest markets, the United States and Canada, by 5 percent, but in its home Mexican market volumes fell by 10 percent and by 23 percent in other parts of the world.
