Constellation's European sales rise
Published: 07 January, 2010
Constellation Brands has been boosted by a 12% increase in branded wine sales in Europe.
Constellation's European success was "primarily due to higher volumes of lower priced products", the company admitted.
But the uplift was not enough to cancel out problems elsewhere in the business, created by the challenging economic climate, which left the company facing a 4% drop in net sales across the globe in its third fiscal quarter.
The company - which produces Hardys, Robert Mondavi and Kumala wines - said it has decreased its debt by US $336 million so far this year and "continues to benefit from cost reduction efforts".
The sale of the Gaymer cider business will improve the position further, executives added.
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