November 1, 2016 / 11:22 AM / in a year

Molson Coors' quarterly sales fall 7 pct

Nov 1 (Reuters) - Molson Coors Brewing Co reported a 6.9 percent fall in quarterly sales, as demand fell for its beers in Canada and Europe.

Net income attributable to the company rose to $202.5 million, or 94 cents per share in the third quarter ended Sept. 30, from $16.6 million, or 9 cents per share, a year earlier.

In the year ago period, the company took an impairment charge of $275 million for certain European brands.

Net sales fell to $947.6 million from $1.02 billion.

Molson Coors bought beer giant SABMiller’s stake in the MillerCoors venture for $12 billion last month, following SABMiller’s agreement to be acquired by Anheuser-Busch InBev for over $100 billion.

MillerCoors reported a marginal rise in net sales in the quarter ended Sept. 30 to $2 billion earlier on Tuesday, helped by strong demand for its premium light beers such as Miller Light and Coors Light. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai Sachin Ravikumar)

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