DENVER—Molson Coors Brewing Co. says strong results in the U.S. and Canada helped boost first-quarter profit.
The Denver-based brewer says net income rose to $37.1 million, or 20 cents per share, compared with $4.4 million, or 3 cents per share last year. Excluding costs related to the plan to combine its U.S. operations with those of SABMiller and other costs, net income was 32 cents per share.
Revenue rose 10 percent to $1.82 billion from $1.65 billion. Excluding excise taxes, revenue increased to $1.36 billion from $1.23 billion.
Analysts polled by Thomson Financial predicted a profit of 28 cents on revenue of $1.31 billion.
The company’s U.S. business benefited from strong sales to retailers, increased prices and cost-saving efforts.
