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Molson Coors profit beats forecasts
Molson Coors Brewing Co, maker of Molson Canadian, Coors Light and Blue Moon beers, reported a better-than-expected first-quarter profit, helped by price increases.
Net income was $79.4m (£49.1m), or 44 cents a share in the first quarter, compared with $82.6m, or 44 cents a share, a year earlier.
Sales rose 0.1 per cent to $691.4m, while analysts expected $703.8m.
Molson sold 9.9m hectolitres of beer in the quarter, a decrease of 0.4 percent.
Last month, Molson agreed to buy East European brewer StarBev for 2.65bn euros ($3.5bn), to expand its footprint in developing markets.