Molson Coors quarterly profit misses estimates
on 10/02/11 at 10:10 amIndustry
Molson Coors Brewing Co (TAP.N) posted a lower-than-expected quarterly profit on Thursday as higher fuel and commodity costs and weak industry sales in its top three markets influenced results.
The beer maker said profit was $109.8 million, or 58 cents a share, compared with $222.1 million, or $1.19 a share, a year earlier. The 2009 fourth quarter benefited from an unusually low tax rate, the company said.