Grupo Modelo has seen its net profit rise 4.7% to 1.486 billion pesos (US$143.3m) in the second quarter as warm weather boosted sales in the domestic market.
Mexico’s leading brewer said total sales, which were also aided by the Easter holidays falling in the second quarter this year, rose 6.5% in volume.
Go deeper with GlobalData
Meanwhile revenues rose 5.9% to 10.825 billion pesos in the second quarter and operating margins also improved as costs rose at a slower pace.
“This increase (in sales) reflects mainly the solid growth in total volumes,” Modelo said in a statement.
Domestic sales accounted for close to 70% of volumes, and were up 6.3% compared to the same period last year. Meanwhile exports grew 7.2%. The company said in a statement, that there had been a sharp spike of sales to the US towards the end of the quarter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
