Modelo Q1 Profit Up 9 Percent

Mexican brewer Grupo Modelo said on Friday its first-quarter profit rose 9 percent, helped by a slight pickup in revenue and lower currency losses, as the peso strengthened in the quarter. Corona-maker Modelo said quarterly profit rose to 2.465 billion pesos ($200 million) from 2.259 billion pesos a year earlier. Revenue rose 3 percent to 21.98 billion pesos. (Reuters)