A major subsidiary of Bermudian-based Bacardi saw revenues and profits rise in its latest financial year — despite a fall in sales in North America, its largest market.

Bacardi-Martini NV, the Netherlands-based unit of the rum maker and beverage giant, said in a regulatory filing that pretax profit rose 5 per cent to $170.4 million.

Most of the revenue growth stemmed from Europe, where sales climbed 7.6 per cent to $1.85 billion, and the rest of the world, where sales climbed 5.8 per cent to $1.09 billion.

In North America, the company’s sales slid 5.6 per cent to $2.18 billion, meaning Bacardi’s sales in the region have slumped 14 per cent slump over two years, according to a news report by Bloomberg.

The numbers reflect research showing a trend of declining alcohol consumption in the US and Canada, with cost and health concerns being the most widely cited reasons.

A 2026 Gallup survey in the US found that 54 per cent of adults said they drink alcohol — the lowest reading in the survey’s history and down from 62 per cent in 2023.

In Canada, sales of alcoholic drinks fell by 3 per cent in 2024/25, the fourth consecutive annual decline.

Privately held and family-owned Bacardi, which has been based in Bermuda for more than 60 years and whose landmark headquarters are on Pitts Bay Road, sells beverages including Patron tequila, Teeling Whiskey and Grey Goose vodka.

Bacardi-Martini is a holding company that also acts as a bank for the group. The firm’s shareholder's equity rose $115 million to $4.27 billion in the period.

Long-term debt was largely unchanged at $3.62 billion.