UPDATE 2-Molson Coors profit beat helped by demand for higher-margin brands

jueves 6 de agosto de 2015 14:28 GYT
 

* 2nd-qtr adjusted earnings/shr $1.41 vs est. $1.32

* Sales fall 15.4 pct to $1 bln

* Shares up 4 pct (Adds CEO comments, details, updates shares)

By Sruthi Ramakrishnan and Ramkumar Iyer

Aug 6 (Reuters) - Molson Coors Brewing Co reported a better-than-expected quarterly profit, helped by higher pricing and increasing demand for its higher-margin beers, and the company said it was moving to make its higher-end brands a bigger part of sales.

Molson Coors' shares were up 4 percent at $73.33 in afternoon trading on Thursday.

MillerCoors, Molson Coors' joint venture with SABMiller Plc , reported a 9.4 percent rise in second-quarter profit as sales of brands such as Blue Moon and Leinenkugel's increased.

Beer drinkers tastes have changed, Molson Coors Chief Executive Mark Hunter told Reuters.

They are drinking less but moving more towards craft-style beers. While this trend is helping margins, it is inhibiting volume growth, he said.   Continuación...