Molson Coors Brewing Company, the international brewer, reported a 23% decrease in third quarter profits, which were impacted by higher costs and a weaker-than-expected performance in the UK. The company said that underlying pre-tax in the UK fell by 25.3% during the quarter to $27.4m, due to overall lower volumes, lower net pricing, and higher marketing investments and operational costs. The UK owned-brand sales-to-retail figure declined 3%, which the company said was due to less consumer traffic through restaurants, pubs and other licensed establishments. Molson Coors president and chief executive officer Peter Swinburn said that the company “did not expect the degree of softness in the UK market”. Total net income for the group fell to $197.4m from $256.1m the previous year, while net vloume of beer sold worldwide dropped 0.8% Revenue rose 9% from $875m to $954.4m, driven by expansion into emerging markets. The company said it would look to boost volume by continuing its push into emerging markets, promote its smaller craft lines and develop new products, such as a fruit-flavored clear malt product in the UK.