Becle Reports Steep Profit Drop
Becle reported an 85 percent drop in third-quarter net profit, missing expectations due to weaker demand, a stronger peso, and a tough selling environment.
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BECLE SAB DE CV reported an 85% plunge in third-quarter net profit to 633 million pesos ($35 million) on Wednesday afternoon, missing analyst expectations. The weak quarter adds to concerns that the global tequila boom is losing momentum, particularly in key markets. Revenues fell 15% to 9.25 billion pesos, missing the 9.96 billion pesos forecast by LSEG analysts polled ahead of the report.
