Grupo Modelo, Mexico's leading brewer, is to invest over US$300 million in its operations this year, according to the company's capital expenditure in 2002.

"We're moving forward with investment plans, maybe with a little bit more care," Carlos Fernandez, Chief Executive said in a statement. "At the end of the day, you have to live the moment. And we have been through many phases."

Grupo Modelo, posted an 11.8% drop in fourth-quarter net profit to MXN815 million, in February, below market forecasts. However, the company said a fall in domestic sales had been offset by a stronger export performance.

18 March, 2003