January 5, 2018 / 12:41 PM / a year ago

Constellation Brands' third-quarter profit jumps 21 percent

Jan 5 (Reuters) - Premium beer maker Constellation Brands Inc posted a 21 percent surge in profits for its third quarter, as retailers stocked more Corona Extra and Modelo Especial beers during Labor Day and Thanksgiving.

The Victor, New York-based company’s net income rose to $491.1 million, or $2.44 per share, in the quarter ended Nov. 30, from $405.9 million, or $1.98 per share, a year earlier.

Net sales fell marginally to $1.80 billion from $1.81 billion. (bit.ly/2F3QAxl)

Reporting by Siddharth Cavale in Bengaluru; Editing by Martina D'Couto

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