Constellation Brands quarterly profit rises on Modelo buy

Reuters

Oct 3 (Reuters) - Alcoholic beverage company ConstellationBrands Inc reported higher quarterly earnings onThursday, helped significantly by the acquisition of GrupoModelo's U.S. beer business.

The world's biggest branded wine maker, with labels such asRobert Mondavi and Ravenswood, said net income was $1.52billion, or $7.74 per share in the second quarter ended onAugust 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 the2012 period.

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