Modelo sees export growth in rest of 2007

Mexican brewer Grupo Modelo, the maker of Corona Extra beer, announced that it expects export volume growing in the high single digits during the second half of this year.

“It will be basically in the high single digits,” Modelo Chairman and Chief Executive Carlos Fernandez was quoted as saying.

Export volume growth in the second quarter was 6.5 percent. Most exports go to the United States.

The company, which is half-owned by Anheuser-Busch, posted a 12.6 percent rise in second-quarter net profit, helped by a jump in export revenue.

Export revenues for the second quarter surged 84 percent, the company said.

Modelo exports five of the 12 brands of beer that it produces