Buying the Carling assets of Bass Brewers in the UK from Interbrew boosted first-quarter profits of the American brewer Adolph Coors by 33%, the company said yesterday.
In Europe, net sales were $194.3m, (£134.3m) on sales volume of 1.3m barrels. Before buying Carling from Interbrew in February for $1.7bn, Coors's quarterly sales in Europe were just 6,000 barrels, worth £564,000.
Coors said volume growth in its core American market fell short of its expectations.
Net sales for the quarter rose 36% to $739.3m from $543.7m a year ago. Sales volume for the quarter rose to 6.4m barrels from 5.1 million barrels for the same period last year.
However, in the Americas segment, net sales rose just 0.4% to $545m, while sales volume rose half a percent to 5.13m barrels.
Total quarterly net income was $27.2m, up from $18.3m, for the same period last year. The group took a $2.9m pre-tax charge for the integration of Coors Brewers Ltd, the name of its new UK operation, business into Coors Brewing Co.
In Europe, net sales were $194.3m, (£134.3m) on sales volume of 1.3m barrels. Before buying Carling from Interbrew in February for $1.7bn, Coors's quarterly sales in Europe were just 6,000 barrels, worth £564,000.
Coors said volume growth in its core American market fell short of its expectations.
Net sales for the quarter rose 36% to $739.3m from $543.7m a year ago. Sales volume for the quarter rose to 6.4m barrels from 5.1 million barrels for the same period last year.
However, in the Americas segment, net sales rose just 0.4% to $545m, while sales volume rose half a percent to 5.13m barrels.
Total quarterly net income was $27.2m, up from $18.3m, for the same period last year. The group took a $2.9m pre-tax charge for the integration of Coors Brewers Ltd, the name of its new UK operation, business into Coors Brewing Co.
