Modelo Posts Strong Domestic Results But Export Volumes Decline

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Mexican brewer Grupo Modelo has registered an increase in sales and profits for the fourth quarter of 2009. In the three months to the end of December, Modelo's revenues climbed by 8% to MXN20.36bn while net profits surged by 18% to MXN2.54bn. The growth in revenues was driven by a 7% increase in domestic sales while export sales climbed by 10% on the back of a weakening of the local currency. For the year as a whole Modelo's volumes increased slightly in its domestic market, but declined in export markets (see