Constellation Brands 3Q Profit Rises Constellation Brands Inc. said Tuesday

Constellation Brands 3Q Profit Rises

Constellation Brands Inc. said Tuesday its third-quarter profit rose 11 percent, lifted by strong liquor sales, the rebound of its wine business in North America and the acquisition of Svedka vodka.

Constellation said profit for the quarter ended Nov. 30 rose to $119.6 million, or 55 cents a share, from $107.8 million, or 45 cents a share, a year earlier.

Sales after excise taxes fell 27 percent to $1.09 billion, from $1.5 billion, largely because of a change in the way it records revenue from its Crown Imports and Matthew Clark wholesale business joint ventures. Read more