REFILE-Constellation Brands sales rise on strength in beer business

jueves 2 de octubre de 2014 08:34 GYT
 

(Corrects day of week to Thursday from Wednesday in first paragraph)

By Anjali Athavaley

Oct 2 (Reuters) - Constellation Brands Inc said on Thursday that its quarterly profit fell from a year earlier, when it had an acquisition-related gain, but sales rose on a strong performance in its beer business.

Net income was $196 million, or 98 cents per share, for the second quarter ended Aug. 31, down from $1.5 billion, or $7.74 per share, a year earlier.

The year-earlier quarter included a $1.6 billion non-cash gain from the acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev.

Net sales rose to $1.6 billion from $1.4 billion.

The company earlier on Thursday announced a 5 million hectoliter expansion at its Nava brewery in Mexico. It said it would acquire a glass plant and associated warehouse, land and rail infrastructure in Nava from Anheuser-Busch InBev for about $300 million pending U.S. Department of Justice and Mexican regulatory approvals. (Reporting by Anjali Athavaley; Editing by Lisa Von Ahn)