The company, which acquired Brazilian brewer, Kaiser, in March for $765m, making it the 13th largest brewing concern in the world, was pleased with the results but believes there is significant potential for further growth. “Our results are fine, but there is a lot more to achieve,” said Molson president and CEO, Daniel O’Neill.
CANADA: Fourth quarter profit growth at Molson
Canadian brewing group, Molson Inc., recorded earnings of C$33.6m ($21.5m) from continuing operations in the quarter to the end of March, up from C$25.7m in the corresponding quarter last year. Sales grew by 10% to C$455.9m. The company took the opportunity as it announced the results to dismiss speculation that it might be the subject of a takeover bid by Heineken.