DENVER -- Molson Coors Brewing Co. says strong results in the United States and Canada helped boost first-quarter profit.
The Denver-based brewer said today its profit rose to $37.1 million, or 20 cents per share, from $4.4 million, or 3 cents per share last year. Excluding costs related to the plan to combine its U.S. operations with those of SABMiller and other costs, it earned 32 cents per share.
Gross revenue rose 10 percent to $1.82 billion from $1.65 billion. Excluding excise taxes, net revenue increased to $1.36 billion from $1.23 billion.
Analysts polled by Thomson Financial predicted a profit of 28 cents on net revenue of $1.31 billion.
The U.S. business benefited from strong sales to retailers, increased prices and cost-saving efforts.
