Molson triples profits
Article Abstract:
Molson Cos. Ltd., a holding company headquartered in Toronto, Ontario, has posted C$111.1 million in profits in its fiscal 1997, a marked improvement from profits amounting to C$33.5 million in fiscal 1996. The firm also managed to register C$1.55 billion in sales in 1997, a 4.7% increase from 1996 sales of C$1.48 billion. The company attributes its creditable financial performance to the commendable showing of its retailing, entertainment as well as brewing operations. Molson's brewing unit, however, continued to suffer from a diminishing market share, from 46.1% to 45.4% of the Canadian beer market.
Comment:
Posts C$111.1 mil in profits in its fiscal 1997, from profits of C$33.5 mil in fiscal 1996
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Molson all-Canadian again
Article Abstract:
Molson Cos. Ltd. of Toronto, Ontario, has acquired Foster's Brewing Group Ltd. for C$1 billion. The deal will raise the company's 50% stake in Foster's to 100% and allow it to return the company to its roots as an operating beer company. The acquisition will not affect Molson in terms of restructuring or management changes. But according to the company's president, John Barnett, having a single owner will make it easier to operate the brewery and set up strategies. The acquisition will also allow the company to raise nationality as a selling point to take on Labatt Brewing Co. Ltd.
Comment:
Has acquired Foster's Brewing Group for C$1 billion
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Molson to pay two CEOs until July, 2000
Article Abstract:
Molson Cos. Ltd. of Toronto, Ontario, is expected to shoulder compensation for two CEOs in the succeeding two years. The company will issue C$836,923 to its present chief executive officer James Arnett in fiscal 1998. Molson will also give severance pay of C$2.46 million to Arnett's predecessor Norman Seagram. Molson Breweries, which is owned by Molson Cos. Ltd. and Foster's Brewing Group Ltd. of Australia, hiked pay for its president, John Barnett, to C$889,674, a 74% gain in fiscal 1998 from just C$512,500 in 1997.
Comment:
Hikes pay for its president, John Barnett, to C$889,674 for a 74% gain in fiscal 1998 from just C$512,500 in 1997
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Comment about this article or add new information about this topic: