Constellation Brands Profit Climbs 4.9%
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From Bloomberg News
Winemaker Constellation Brands Inc. said its fiscal first-quarter earnings climbed 4.9%, boosted by higher beer sales and the acquisition of Australian vintner BRL Hardy Ltd.
Net income rose to $39.2 million, or 41 cents a share, from $37.4 million, or 40 cents, a year earlier. Sales in the quarter ended May 31 rose 19% to $771.6 million, the Fairport, N.Y.-based company said.
Constellation shares fell 65 cents to $30.75 on the NYSE. Results were released after the close of U.S. markets.
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