Molson reports 82% increase in profits
Molson lnc.’s fourth-quarter profit rose 82 per cent because of lower costs, higher beer sales and a change in accounting practices. Net income in the period ended 31 March 2002 rose to C$33.6 million (US$21.5 million), or 27 cents a share, from the year-earlier C$18.5 million, or 15 cents. Sales rose 12 per cent to C$619 million from C$552 million.
Molson’s Canadian sales were up 1.5 per cent, slightly higher than the national industry average of 1.4 per cent. The brewer increased its share of the market by 0.1 percentage point to 45.3 per cent, following a 0.2 point gain in the third quarter. In the U.S., sales climbed 1.3 per cent..
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