Modelo Cerveza Profits Rise an Outstanding 33%

Grupo Modelo SAB, the brewer of Corona beer, said third-quarter profit rose 33 percent on higher prices and demand in Mexico. Net income increased to 3.3 billion pesos ($240 million) from 2.5 billion pesos a year earlier, the Mexico City-based company said today in a statement to the nation’s stock exchange. Sales climbed 1.4 percent to 23.6 billion pesos.