Revenues and profits fell at Molson Coors for the second quarter of its fiscal year, affected like many businesses by the pandemic.
For the quarter ended at the end of June, the brewer reported profits down 40.8% to US $ 195 million. Per diluted share, they went from US $ 1.52 at the end of June 2019 to US $ 0.90 at the end of June.
The giant’s revenues also fell 15.1% to US $ 2.503 billion, from US $ 2.948 billion the year before.
Even so, Molson Coors president and CEO Gavin Hattersley said he was satisfied with the numbers in a statement, saying his company had managed to meet targets set during the pandemic.
The latter also highlighted how the current health crisis has strained the company’s supply chain and the availability of packaging, in this case with the demand for aluminum.
“Our supply chain continues to work diligently to ensure an adequate supply of these high-demand brands and packaging as we adjust to these changing consumer dynamics,” added Hattersley.
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