, Molson Coors slumps 53% as new unit disappoints
Molson Coors Brewing Co. (TAP.N) published its quarterly profit report on Tuesday, and to everyone’s surprise in Wall Street it blew estimates. The financial result of Molson Coors is surprising partly due to the acquisition of the Central European maker of Staropramen beer, which was bought by Molson Coors in June this year. The company’s second-quarter earnings slumped 53 percent on higher cost, while the top line had been bolstered by higher volume in Canada and the benefits of newly purchased StarBev LP.
