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NEW YORK — Molson Coors Brewing Co. says its profit jumped 75 percent in the fourth quarter. The rise was helped by a tax benefit and exchange rates resulting from the weaker dollar.
The brewer said today its earnings rose to $173.2 million, or 95 cents per share, from $99.2 million, or 57 cents per share a year ago. Net income was 73 cents per share excluding special items. Analysts polled by Thomson Financial predicted a profit of 65 cents per share and typically exclude special items.
The company received a tax benefit of $60.4 million related to changes in Canada and U.K. corporate income tax laws.
Revenue grew 5 percent to $1.6 billion. Analysts expected revenue of $1.55 billion.
Sales volume fell 4 percent to 10.5 million barrels.
