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Molson Coors quarterly profit misses estimates

on 10/02/11 at 10:10 am

Industry

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.

{Full story via Reuters}

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