Molson Coors Brewing Reports Decline In Q4 Underlying Pre-Tax Profit

(RTTNews) - Molson Coors Brewing Co. (TAP, TPX.TO) Thursday reported 11.3 percent decline in fourth quarter net income attributable to MCBC of $33.4 million or $0.18 per share from $93.2 million $0.50 per share in the prior year. Underlying pre-tax profit declined 21.1 percent to $106.3 million. Adjusted underlying profit was $90.6 million or $0.49 per share.

Net sales declined 13.3 percent to $844.4 million from $973.8 million a year ago. Worldwide beer volume decreased 1.7 percent to 13.8 million. Coors Light volume was increased 0.8 percent worldwide, while sales were up 13.5 percent in Europe and International.