The company made a net profit of €110 million in the October-December quarter despite profits falling 5 percent. The group was hit hard last fall by a drop in sales in the United States as consumers retreated from inflationary pressures and price increases.
Sales in the United States and Canada, the group's largest market, fell 12 percent in the quarter, but would have fallen only 3 percent if the effect of the strengthening of the Mexican peso were discounted.
In Becle's domestic Mexican market, which represents 25 percent of its annual revenue, sales increased 10 percent in the quarter compared to 2022. Global volumes for the José Cuervo Tequila range fell 2 percent compared to the same quarter in 2022, while other non-alcoholic beverages each gained 6 percent. Annual sales in 2023 fell 3 percent despite the Becle company forecasting last April that they would grow steadily.
"The slowdown in consumer demand for spirits in several markets indicates that trends are normalizing after two years of recording strong growth," Becle CEO said in a statement.
