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MEXICO: Third quarter net profit up 12% at Modelo

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The Mexican brewer, Grupo Modelo, in which Anheuser-Busch owns a 50% stake, has reported net profit of MXN1.007 billion for the quarter from July to September 2002, 12% up on the MXN897m figure in the corresponding period in 2001.

Revenues rose from MXN8.384 billion to MXN9.015 billion, while gross profit rose from MXN4.596 billion to MXN5.047 billion. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up from MXN2.375 billion to MXN2.801 billion.


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