RTDs and FX Hamper Proximo’s Q1 Results

Dear Client:     Grupo Cuervo started off fiscal 2023 with global volumes up 3.9% in Q1, driven by Mexico, which had strong tequila performance and less glass supply constraints. However, US and Canada results weighed down overall volumes, due to volume declines in the ready-to-drink category, per release.  Meanwhile, global net sales were up 5.7% on a reported basis (up 12.5% pro forma on a constant currency basis), driven by its premiumization strategy, noted ceo Juan Domingo Beckmann on this