Mexican brewer, Grupo Modelo, reported sales of MXN9.60 billion in the second quarter, up 5.4% from the corresponding period last year. Volumes in the second quarter reached 11.1m hls, 5.6% ahead of the second quarter last year.

Domestic volumes in the first quarter stood at 7.9m hls while export sales rose by 5%, the company said. Modelo's strong export profile, notably with the sales of the Corona brand to the US, meant that the 9.5% weakening of the peso during the quarter benefited the company.

In the first six months, Modelo's sales rose by 6.5% to MXN17.64 billion. Net Profit for the six-month period rose from MXN1.93 billion to MXN2.32 billion while operating profit increased from MXN4.40 billion to MXN4.85 billion.