just The Preview - Molson Coors Q3
Molson Coors is set to report its third-quarter results tomorrow (7 November)
Molson Coors is set to report its third-quarter and year-to-date results tomorrow (7 November). Here, just-drinks takes a look at the highs and lows for company in the three months to the end of September.
- The North American brewer, which distributes the SAB Miller-owned Grolsch brand in the UK and Ireland, unveiled a GBP1.3m (US$2.04) marketing campaign for the Dutch beer in June. The movie-themed campaign intends to link the brand to the big screen.
- One of Molson Coors' other UK interests, Sharp's Brewery, reported a 43% rise in volume sales in July. The Cornwall-based Doom Bar brewer was bought by Molson Coors for GBP20m (US$32m) in February last year.
- Still in the UK, and Global Brands continued its strategy to bring old Molson Coors brands back to life. In July, Hooch Alcoholic Lemon Brew was the latest to go under licence to Global Brands, following the Reef RTD brand, which went on sale in June after its abv was reduced to 4%.
- In September, Molson Coors killed off an underperforming brand in the UK. Animée beer, released in July last year, was supposed to appeal to female drinkers but failed to achieve significant sales.
- One piece of news likely to feature in Molson Coors's results tomorrow is the acquisition of Staropramen brewer StarBev for about EUR2.65bn (US$3.54bn), completed in June. The deal hampered first-half results but should lift volumes and sales for Q3.
- H1 net profits fell by 39.6% to $184.6m
- Net sales in six months to end of June inched up by 4.1% to $1.69bn
- Operating profits slipped by 5.5% to $400.7m
For the company's Q2,
- Net profits grew by 10.4% to $443.7m
- Net sales up increased 4.3% to $2.22bn
- Operating profits increased by 9.4% to $444.4m
- Net profits dropped by 4.1% to US$79.5m
- Operating profits fell by 3.3% to $121.8m
- Net sales increased by 0.1% to $691.4m
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