MEXICO CITY, Feb 22 Reuters Mexican distiller Becle, the world39;s largest tequila producer, on Thursday posted a 41 rise in its net profit for the last three months of 2023 compared to a year earlier, above market forecasts even as sales slipped in key markets.

The Mexico Citybased firm, which sells Jose Cuervo family tequilas as well as mezcal, whiskey and other liquors, posted a net profit of 1.96 billion pesos 115 million for the fourth quarter, even as revenues fell 5 to 13.16 billion pesos.

This landed above estimates from analysts polled by LSEG, who had forecast a quarterly profit of 1.28 billion pesos from revenues of 13.05 billion.

Earnings before interest, tax, depreciation and amortization EBITDA edged down 2 to 2.44 billion pesos, just above a forecast of 2.22 billion pesos. Slowing consumer demand for spirits in several markets indicates trends are normalizing after two years of exponential growth, Becle39;s management said in a filing to Mexico39;s main stock exchange, adding that lower costs expected this year should allow it to improve margins.

The company said it planned to continue its strategy of selling more premium products, which had allowed it gain territory in key markets and better face up to current challenges.

Becle39;s stock is down nearly a quarter compared to this time last year, largely due to a 19 nosedive after its thirdquarter earnings, when it suffered from a stronger Mexican peso battering foreign earnings as well as slower U.S….