Constellation Profit Lifted by Higher Sales
From Bloomberg News
Constellation Brands Inc., the world’s largest winemaker, said third-quarter earnings rose 17%, boosted by higher sales from its vintners, including Blackstone and Ravenswood.
Net income climbed to $96.9 million, or 83 cents a share after allowing for the payment of preferred dividends, from $82.8 million, or 73 cents, a year earlier. Sales rose 10% to $1.09 billion, the Fairport, N.Y.-based company said.
Shares of Constellation rose $1.78 to $46.49 on the New York Stock Exchange.
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