Profits Up at Molson Coors

CBJ — Molson Coors has reported a fourth-quarter profit of $163.7 million US, up from $76 million in the same quarter a year earlier.

Net sales totaled nearly $2.5 billion, up from nearly $2.4 billion.

Sales were up nearly 5% in the U.S., but dropped by about the same percentage in Canada. Sales were up 1% in Europe while the rest of the world where the products are distributed as up 7.5%.

Molson Coors says its underlying profit for the quarter amounted to $221.5 million or $1.02 per share compared with an underlying profit of $182.3 million or 84 cents per share in the same period a year earlier.