Molson Coors 3Q Profit Up 28%

By: Associated Press
By: Associated Press
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Brewer Molson Coors says its third-quarter profit rose 28 percent, but that result missed analysts' expectations.

The maker of Coors Light and Blue Moon said it earned $173.2 million, or 94 cents a share in the three months ending Sept. 28. That compares with profit of $134.7 million, or 74 cents, a year earlier.

The company said its earnings include a 2 cent a share gain from continuing operations.

Thomson Reuters says analysts predicted the company would earn 96 cents a share.

The period marked the first full quarter the company operated its joint venture with SABMiller's U.S. unit, called MillerCoors. It said net income for the combined company was 15 percent higher than the joint total the companies had a year earlier, when they were separate.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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