UPDATE 2-Constellation shares soar on strong sales, new brewery plan
* Raises FY adj. profit, beer sales forecast
* Net sales of beer rise 8 pct to $831.3 mln in Q3
* Shares rise as much as 7.6 pct to record high (Adds details on new plant, expansions; updates shares)
Jan 7 (Reuters) - Alcoholic beverage maker Constellation Brands Inc reported better-than-expected quarterly net sales and profit, and said it plans to spend $1.5 billion to build a brewery in Mexico to meet growing demand for its Mexican beer brands.
The company's shares rose as much as 7.6 percent to a record high of $154.05.
Constellation has been benefiting from strong demand from a rising Hispanic population in the United States who have spurred demand for its beer brands such as Modelo Especial and Corona. These beers, which are higher priced and considered premium, have also garnered a wide following from other American consumers.
Net sales of beer rose 8 percent to $831.3 million in the third quarter ended Nov. 30, accounting for more than half of the company's net sales.
Operating income from selling beer rose 20 percent, primarily due to volume growth and higher prices, Constellation said.
Constellation has been investing heavily in building new plants and expanding capacities at facilities as demand for its beers continue to rise. Continuación...