Thousands of newly-labelled bottles of Coors Light beer head for packaging at the Coors brewery in Golden, Colorado October 16, 2007. REUTERS/Rick Wilking
Molson Coors profit risesMay 05, 2009
NEW YORK (Reuters) - Molson Coors Brewing Co
The maker of Coors Light and Molson Canadian said net income was $75.7 million, or 41 cents per share, in the first quarter that ended March 29, up from $34.3 million, or 19 cents per share, a year earlier.
Net sales tumbled to $559 million from $1.36 billion in the year-earlier period, before the company formed the MillerCoors joint venture with SABMiller Plc
Molson Coors' U.S. sales are now accounted for by MillerCoors, which earlier on Tuesday said first-quarter net sales rose 3.8 percent to $1.72 billion.
Molson said it sold 10.5 million hectoliters of beer in the quarter, down 2.7 percent from the year ago.
(Reporting by Martinne Geller, editing by Maureen Bavdek)