Following the announcement today that Coors and Molson have finally closed their merger, the newly-formed Molson Coors Brewing Company announced third quarter results for Molson Inc.

The company said that consolidated operating profit reached C$62.7m compared to operating profit of C$115.3m in the previous fiscal year.

Consolidated net earnings also fell to C$17.7m, down from net earnings of C$43.6m a year earlier.  Consolidated net sales revenue was flat at C$623.2m with Canada up 2.3%

Total Molson beer volumes fell 7.5%, with Brazilian volumes down 11.1% and volumes in Canada down 2.9%

The group's total market share in Canada was down 1.1 share points to 41.8% for the quarter, with core brand share slipping 0.5 share points.

Molson said that third quarter operating profit in Canada totalled C$110m, excluding the merger related costs of C$8m.

"The 5.2% decline in EBIT was attributable to increased selling and pension costs as well as the strengthening of the value segment in certain regional markets. Including non-recurring costs, EBIT totalled C$102m, down 12.1% compared to the corresponding period last year," a statement said.

In Brazil, EBIT in the quarter was negatively impacted by higher sales centre costs, as well as lower volumes, but partially offset by lower marketing and other costs as a result of the timing of certain marketing and other programmes.

Total estimated Molson market share in Brazil was 9.7% for the three-month period to 31 December, compared to 12.1% for the same period last year, according to ACNielsen data.

Overall, Molson's total and Canadian trademark volumes in the US for the quarter were down by 5.6% and 11.8% respectively, compared to the same period last year.