• Half-year net profits fall by 31.7% to US$310.1m
  • Net sales in six months to end of June slide by 14.9% to $1.71bn
  • H1 operating profits drop by 22.7% to $439.6m
  • Q2 net profits down by 21.3% to $229m
  • Net sales in three months to end of June decrease by 15.4% to $1bn
  • Operating profits in Q2 fall by 13.8% to $314.3m
  • Volumes in both Q2 and H1 down by low single-digits
  • For coverage of Molson Coors' post-results conference call, click here
Molson Coors saw its second quarter continue where its Q1 left off

Molson Coors saw its second quarter continue where its Q1 left off

Molson Coors has seen its first-quarter troubles prevail, with sales and profits in the first half of 2015 continuing to struggle.

Net profits in the six months to the end of June tumbled by almost 32% on a near-15% drop in sales. Volumes in the half-year fell by 2.6%.

The brewer failed to improve on poor first-quarter figures, which were released in May. A net sales fall of 14% in Q1 was followed by a 15.4% slide in the second three months of the year. Volumes in Q2 dipped by 1.2%.

For a drilldown into Molson Coors' results by region, click here

Mark Hunter, president & CEO

"This year, we have repatriated Staropramen lager to our UK portfolio, and purchased the Mount Shivalik Breweries business in India and the Rekorderlig cider brand distribution rights in the UK and Ireland. These acquisitions give us high-potential platforms to grow our business in key markets. We also made the decision to substantially restructure our China business as we focus on accelerating the performance of our overall international business,

"This progress in the quarter was against the backdrop of continued volume pressure in our largest markets, significant impact from foreign currency movements, a higher tax rate, and terminations of business contracts in the UK and Canada."

Despite the tough performance, Molson Coors' share price rose yesterday: At the close, it was 3.35% up at $73.76.

To read the company's official statement, click here.