Grupo Modelo has posted a rise in net sales in the third quarter. The Mexican brewer said late last week that net sales rose by 9.6% year-on-year to MXN11.31 bln (US$980m) as domestic sales increased by 4.4% and exports leapt by 18.3%.

While sales volumes to the US, Europe and Asia rose in the three-month period, the depreciation of the peso against the dollar also helped Modelo's exports.

Total beer sales volumes increased by 5.9% while domestic volume was up by 5.2%. Exports rose by 7.5% year-on-year, representing 29.3% of the total volume.

Turnover for the quarter was up by 16%, reaching US$290m.

For the first nine months of this year, beer sales were up by 2.3% on the corresponding period last year, hitting 32m hectolitres.