US wine sales boost Constellation

Wine and spirits maker Constellation Brands yesterday forecast full-year profit above Wall Street’s view and announced a new stock buyback program. The world’s largest branded winemaker, whose portfolio includes Robert Mondavi and Clos du Bois, also said growth in its North American wine business and strong sales of Svedka vodka contributed to better-than-expected results for the fiscal fourth quarter. Constellation forecast adjusted earnings per share of $1.90-$2 (£1.16-£1.22) for the year ending February 2012.