Constellation Brands quarterly profit rises on Modelo buy
Oct 3 (Reuters) - Alcoholic beverage company Constellation Brands Inc reported higher quarterly earnings on Thursday, helped significantly by the acquisition of Grupo Modelo's U.S. beer business.
The world's biggest branded wine maker, with labels such as Robert Mondavi and Ravenswood, said net income was $1.52 billion, or $7.74 per share in the second quarter ended on August 31, compared with $124.6 million, or 71 cents per share, a year earlier, prior to the acquisition.
Excluding one-time items, earnings were 96 cents per share.
Net sales rose to $1.46 million from $698.5 million in the 2012 period.