US: Constellation Brands Reports Strong Q1 Gains

Constellation Brands has reported a stronger-than-expected increase in sales for its fiscal first quarter, helped by demand during the Memorial Day weekend.

For the three months to 31 May, net profit was up 33.4% to $318.3m, while sales grew by 14.7% to $1.87bn.  Constellation said its Beer sales were up 19% in the period, while its Wine & Spirits unit recorded an 8% increase.

Constellation reiterated its full-year outlook.