May 6, 2008 / 12:42 PM / 10 years ago

Molson Coors 1st-quarter profit rises

NEW YORK, May 6 (Reuters) - Molson Coors Brewing Co TAP.N, maker of Molson Canadian and Coors Light beer, reported sharply higher quarterly profit on Tuesday, helped by higher sales volume and cost-cutting.

Net income was $37.1 million, or 20 cents per share, in the fiscal first quarter ended March 30, compared with $4.4 million, or 3 cents per share, a year earlier.

The company said underlying earnings were 32 cents per share. (Reporting by Martinne Geller, editing by Gerald E. McCormick)

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