Jose Cuervo maker maintains annual guidance, upbeat on coming months

Becle SAB de CV

28/07/2023 17:10

MEXICO CITY, July 28 (Reuters) - Mexican distiller Becle
 CUERVO.MX , the world's largest tequila producer, said on
Friday that it maintained its guidance of annual sales in the
high single digits on a constant currency basis, after a
stronger peso ate into its earnings abroad.
    Without the FX impact, Becle's gross margin would have
expanded over the second quarter instead of shrinking, an
executive said in an earnings call a day after it posted a net
profit drop of 5%.
    The company expects stronger results over the coming months,
the executive said, which should enable the firm to meet its
target, as well as benefits from lower prices for agave - the
prickly plant used to make tequila - over the longer term. 

 (Reporting by Sarah Morland and Aida Pelaez-Fernandez; Editing
by)
 ((sarah.morland@thomsonreuters.com;))