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Originally published Tuesday, May 4, 2010 at 9:24 AM

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Summary Box: Molson Coors' 1Q profit, sales rise

THE RESULTS: Molson Coors Brewing Co.'s first-quarter profit climbed 38 percent on a tax-related gain, but its adjusted results missed estimates as its costs rose and people bought less beer.

The Associated Press

THE RESULTS: Molson Coors Brewing Co.'s first-quarter profit climbed 38 percent on a tax-related gain, but its adjusted results missed estimates as its costs rose and people bought less beer.

THE VOLUME: The brewer sold 3.8 percent less beer worldwide, including an 11 percent drop in its stronghold of Britain. The company's U.S. business posted a 4 percent drop in sales to retailers.

THE BRANDS: Coors Light and Molson Canadian grew in Canada. In the U.S., Miller Lite fell by a percentage in the high single digits, while Coors Light fell in the low single digits. MGD 64 had double-digit growth.

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