Molson Coors' revenue up 8 percent

Molson Coors' revenue up 8 percent

Molson Coors Brewing Company (TSX: TAP; NYSE: TAP) announced Tuesday that its first-quarter net revenue grew up to $37.1 million, or 20 cents a share, from $4.41 million, or 3 cents, a year earlier.

The sudden increase resulted from high sales in the U.S. , Canada and the U.K. that increased by 10 percent to $1.36 billion.

The company was created by the merger of two of North America 's largest breweries: Molson of Canada, and Coors of the United States, on February 9, 2005.

Molson Coors also announced its plans to merge its U.S. operations with those of London-based SABMiller in the middle of this year.

Molson Coors’ stock jumped by 7.4 percent to $57.10 in New York Stock Exchange composite trading today.

Photo: www.smh.com.au