Molson Coors profit drops 28 pct on higher marketing, taxes
Feb 14 (Reuters) - Molson Coors Brewing Co, known for its Molson Canadian, Miller Coors and Coors Light beers, reported a sharp drop in fourth-quarter profit, hurt by higher marketing costs and corporate tax rates.
Underlying net income for the quarter ended Dec. 29 fell to $126.1 million, or 69 cents per share, from $176.0 million, or 97 cents per share, a year earlier.
Net sales rose 9.9 percent to $1.03 billion.
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Couple, four children missing in Nevada found safe in canyon
- Regulators seek to curb Wall St. trades with Volcker rule |