Molson Coors has Strong Quarter
Out performs other major brands with 3% volume increase
Molson Coors Brewing Company reported higher consolidated sales volume, net income and earnings per share for the company's fiscal 2007 second quarter.
Net sales increased 5.9 percent to $1.68 billion while US volume was up 3.1%. Sales-to-retailers in the US was also up by 2%.
Blue Moon, Molson Coors’ craft look-alike was up by double digits.
Leo Kiely, Molson Coors president and chief executive officer, said, "We were pleased with our Company's performance during the second quarter. We were especially pleased that we continued to grow overall volume and achieved share gains in our two largest markets. We remained focused on building our strategic brands, led by Coors Light. In addition, we delivered on cost reduction plans across our global enterprise, offsetting a significant portion of our cost inflation challenges."
Canada sales volume increased 4.0%, driven by a 1.1% increase in sales to retail and the inclusion of the higher volume week leading into the Canada Day weekend in the second quarter 2007 versus its inclusion in the third quarter 2006.