April 6 Constellation Brands Inc, the
no. 3 U.S. beer company, reported a 5.5 percent rise in
quarterly sales on Thursday, helped by strong demand for its
beers such as Ballast Point and Corona.
Net income attributable to the company rose to $452 million,
or $2.26 per Class A share, in the fourth quarter ended Feb. 28,
from $243.4 million, or $1.19 per share, a year earlier, mainly
due to the completion of the sale of its Canadian wine business.
Victor, New York-based Constellation said its net sales rose
to $1.63 billion from $1.54 billion.
The company sold its Canadian wine business in October for
C$1.03 billion ($775 million) to strengthen its footing in the
premium craft liquor market in the United States.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by