Business

Cuervo parent Becle expects supply problems to persist, CEO says

Bottles of Jose Cuervo Tequila relaxation on a shelf in Mexico Metropolis, Mexico, February 8, 2017. REUTERS/Edgard Garrido

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April 29 (Reuters) – Mexican distiller Becle, higher referred to as the father or mother firm of the favored Jose Cuervo tequila model, expects to see extra provide chain issues this 12 months, the corporate’s chief govt mentioned on Friday.

“We nonetheless see a disruption,” mentioned Becle Chief Govt Juan Domingo Beckmann, particularly citing glass provides.

Beckmann, whose household owns the corporate, mentioned the disruptions had lessened from the earlier 12 months, however that the corporate doesn’t “know but when that is going to normalize.”

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Difficult provide chain issues have been additionally famous in its first-quarter outcomes launched on Thursday, though the corporate mentioned it was managing these with “logistics mitigation methods.”

Becle posted a first-quarter web revenue of 1.35 billion pesos ($67.9 million), a 9.4% enhance over the year-ago first quarter.

Becle was the highest gainer on the Mexican inventory market’s essential index on Friday, closing greater than 5% larger regardless of the general index dropping some 2%.

($1 = 19.8911 pesos by end-March)

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Reporting by Carolina Pulice; Further reporting by Kylie Madry and Noe Torres; Modifying by Invoice Berkrot

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