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Molson Coors' quarterly sales fall 7 pct

Published 2016-11-01, 07:20 a/m
© Reuters.  Molson Coors' quarterly sales fall 7 pct
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Nov 1 (Reuters) - Molson Coors Brewing Co TAP.N reported a 6.9 percent fall in quarterly sales, as demand fell for its beers in Canada and Europe.

Net income attributable to the company rose to $202.5 million, or 94 cents per share in the third quarter ended Sept. 30, from $16.6 million, or 9 cents per share, a year earlier.

In the year ago period, the company took an impairment charge of $275 million for certain European brands.

Net sales fell to $947.6 million from $1.02 billion. Coors bought beer giant SABMiller (LON:SAB)'s stake in the MillerCoors venture for $12 billion last month, following SABMiller's agreement to be acquired by Anheuser-Busch InBev ABI.BR for over $100 billion. reported a marginal rise in net sales in the quarter ended Sept. 30 to $2 billion earlier on Tuesday, helped by strong demand for its premium light beers such as Miller Light and Coors Light.

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