Molson Inc. brewed record net earnings of $312 million in its fiscal year ended March 31, compared with $178 million the previous year. Per-share profit climbed to $2.45 from $1.48, the brewer reported Friday. Net sales revenue increased 19.6 % to $2.5 billion from $2.1 billion, stemming from a 5.1 per cent revenue increase in Molson's operations in Canada and the consolidation of Kaiser revenue in Brazil.

Brewing volume increased by 61 per cent to 23.1 million hectolitres. The addition of Kaiser volume more than offset a 1.4 per cent volume decrease in Canada, where total estimated industry volume increased marginally by 0.2 per cent year over year.

Montreal-based Molson acquired Kaiser, Brazil's second-largest brewer, last year. Molson said the record performance was fuelled by operational savings, most of which came from operations in Canada, a favourable pricing environment, as well as the positive impact of the Brazilian acquisition. Molson's average estimated market share for all beer sold in Canada during the recently completed fiscal year declined to 44.4 per cent from 45.1 per cent.

In the fourth quarter, net earnings increased 80 % to $60.6 million, or 48 cents a share, from $33.6 million or 28 cents. Net sales revenue rose 10 % to $501.5 million.

08 May, 2003