Grupo Modelo Q1 Profit Rises 5.4%

Mexican brewer Grupo Modelo S.A.B. de C.V. GPMCY reported a 5.4% rise in its first-quarter profit. Modelo's quarterly profit climbed to 2.259 billion pesos ($176 million), versus 2.143 billion pesos, in the year-ago period. Grupo Modelo shares closed at $70.95 on Friday.