Constellation Profit Rises on One-Time Gain
From Bloomberg News
Constellation Brands Inc., the world’s largest winemaker, said first-quarter profit rose 13%, lifted by a one-time gain on a currency hedging contract.
Net income increased to $85.5 million, or 36 cents a share, from $75.7 million, or 32 cents, a year earlier, Fairport, N.Y.-based Constellation said. Sales rose 5.4% to $1.16 billion.
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