* Sales rise nearly 10 percent to 26.754 billion pesos
* Cost of sales up 11.2 pct
Oct 23 Mexico's Grupo Modelo, maker of Corona
beer, reported a nearly 9 percent drop in third-quarter profit
on Tuesday due to higher costs for ingredients and foreign
Modelo, which is being acquired by top global
brewer Anheuser Busch InBev SA, said profit dropped to
2.975 billion pesos ($231 million) from 3.266 billion pesos a
year earlier. The cost of sales rose 11.2 percent.
Domestic sales volumes slipped 0.5 percent, while export
volumes rose 4.8 percent, mainly driven by sales in the United
States, Canada and Europe. Exports made up just over one-third
of total sales, up slightly from last year.
Revenue rose 9.7 percent to 26.754 billion pesos. Corona is
the top-selling imported beer in the United States.
Modelo in June agreed to a $20.1 billion deal that will give
AB InBev the half of the Mexican brewer it does not already own.