Thanks to a strong performance home and abroad, the Mexican brewer Modelo has posted a rise in first quarter net profit to 1.522 billion pesos (US$136m), up from 1.159 billion pesos a year ago.

Exports to the US, Europe and Australia performed particularly well. "This allowed exports to increase its share of total sales to 30.4 percent in 2005 from 27.6 percent in 2004," Modelo said.

Export volumes jumped 23.6%. Meanwhile, domestic shipments rose 7.6% over the same period last year.

Modelo's revenues were up 12% to 10.757 billion pesos, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 13% to 3.510 billion pesos.