Molson, the Canadian brewer, is looking to make an international acquisition by June, the company's CEO was quoted as saying in Canadian press.

Agreeing with analysts, Dan O'Neill said the brewer would not be able to continue to grow profits and stock value merely by cutting costs as consolidation goes on around it.

Speaking at a conference call about the brewer's third quarter results, O'Neill said he was continuing to look at opportunities and that "we have many irons in the fire; we are confident they will materialise."

While the brewer still had two or three years left of growth by cost cutting, a deal should be announced by Molson's annual meeting in June, he confirmed.

In its third quarter, ending December 31, profits fell 9% to C$45m. However sales rose 18% to C$692.4m as share on the domestic market increased 0.2% to 45.1%.

Volumes were also up by 29%, including a 3.9% rise on the domestic market.

Despite the profits, O'Neill described the period as "one of the best quarters in the last several years".