Molson Coors Brewing Company says its net income surged 24 per cent to $201.3-million (U.S.) in the first quarter following the acquisition that transformed it into the world's third-largest brewer.
The Denver and Montreal-based brewer says it earned 93 cents per diluted share for the quarter ended March 31.
That compares with 80 cents per share or $162.7-million a year earlier, before the $12-billion acquisition of the Miller brands and MillerCoors joint venture in the United States.
However, had the assets been part of Molson Coors a year ago, earnings were down from $256.9-million or $1.19 per diluted share on a pro-forma basis.
Total revenues, which the company reports in U.S. dollars, were $2.45-billion. That's up from $657.2-million in the first quarter of 2016, but down from $2.46-billion on a pro-forma basis.
In Canada, Molson Coors earned $23.1-million in pre-tax profits, compared with $146.6-million a year ago when it recorded a gain from the sale of its B.C. brewery.