Molson Coors 2Q Net Up 18% On US, Canada Growth |
| CNNMoney.com - Aug 7, 2007 |
Molson Coors Brewing Co. (TAP), one of the world's biggest beer makers, said its second-quarter net income rose 18% driven by growth in the U.S. and Canada and merger-related cost savings.
The company reported net income of $185 million, or $2.04 a share, compared with $156.2 million, or $1.81 a share, a year earlier.
The latest quarter's results included charges totaling $25.4 million. The charges consisted of $24.1 million tied to the termination of a U.S. license agreement with Foster's Group Ltd. (FBRWY) and a $1.2 million restructuring expense in its European supply chain.
The quarter also included income of $16.7 million from the sale of its interest in the House of Blues Canada business. Tax benefits reduced Molson's tax expense by $11.5 million related to revaluation of the company's tax assets and liabilities.
Read Full Article from CNNMoney.com
- Posted: 2007-08-07 09:54:45
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