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Constellation Brands profit nearly doubles as beer sales rise
January 8, 2014 / 1:00 PM / 4 years ago

Constellation Brands profit nearly doubles as beer sales rise

Jan 8 (Reuters) - Constellation Brands Inc’s quarterly profit nearly doubled, helped by strong sales of beer, including the brands it bought from Groupo Modelo’s U.S beer business.

The world’s biggest branded wine maker said revenue jumped 88 percent to $1.44 billion for the third quarter.

The company’s profit rose to $211 million, or $1.07 per share, in the quarter from $109.5 million, or 58 cents per share, a year earlier. (Reporting by Devika Krishna Kumar; Editing by Kirti Pandey)

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