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US beer business is the shiniest star for Constellation as it posts 21% increase in earnings

Published:  08 October, 2015

Robert Mondavi and Clos du Bois wine producer Constellation Brands increased earnings by 21% in the second quarter of its financial year, covering the period from June to August.

Earnings were US$501 million (£327.2 million) on net sales which rose 8% to US$1.7 billion (£1.1 billion).

Growth was buoyed by strong results from its beer business in the US where it sells Corona.

Wine and spirits net sales on an organic constant currency basis increased 3%.

Rob Sands, president and chief executive officer, said: "We experienced strong depletion trends of more than 6% for our wine and spirits focus brands, led by double digit growth of Kim Crawford, Black Box, The Dreaming Tree and Ruffino, as investments in these key brands are paying off.

"We have successfully integrated Meiomi [bought in August] into our existing wine portfolio and we are working to expand distribution to drive incremental growth for this brand."