April 6, 2017 / 11:42 AM / 6 months ago

Corona maker Constellation's quarterly revenue rises 5.5 pct

April 6 (Reuters) - Constellation Brands Inc, the no. 3 U.S. beer company, reported a 5.5 percent rise in quarterly sales on Thursday, helped by strong demand for its beers such as Ballast Point and Corona.

Net income attributable to the company rose to $452 million, or $2.26 per Class A share, in the fourth quarter ended Feb. 28, from $243.4 million, or $1.19 per share, a year earlier, mainly due to the completion of the sale of its Canadian wine business.

Victor, New York-based Constellation said its net sales rose to $1.63 billion from $1.54 billion.

The company sold its Canadian wine business in October for C$1.03 billion ($775 million) to strengthen its footing in the premium craft liquor market in the United States. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D‘Couto)

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