Export boom
During the first quarter 2000, Grupo Modelo, the brewer of Corona Extra, registered a 5.6% growth (to 6.0 million hl) in the domestic shipment of beer. Even exports were up 6.2% to 1.96 million hl in spite of the high base of comparison from the first quarter 1999 which grew 42.7%.
Carlos Fernández, Grupo Modelo’s CEO, declared: "We expect that this growth trend will increase in the following months, since the sales of our products in the North American market are still growing above the import beer category."
With domestic sales reaching 4.2 billion pesos and exports 1.4 billion pesos, total net sales were 6,17 billion pesos (US$ 646.6 million), an increase of 8.1% reflecting the price increase implemented at the beginning of the year. Operating income was 1.5 billion pesos (24..
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