Modelo Q1 Exports Down 3.7%

Grupo Modelo, brewer of Corona, announced that first quarter export sales (mostly to US) in dollars were up 4.1% on weak volume, but export pricing was up 8.1%, lifting revenues. Keep in mind that pricing at the retail level did not go up until the end of March. Export shipments were down 3.7%. Modelo reported softer sales in Mexico, with shipments there down 1.7%. Modelo posted a higher-than-expected 6.6% rise in quarterly net profit. DIAGEO ANNOUNCES LOW CARB WINES. Diageo