UPDATE 4-Molson Coors profit tops view; shares jump

(Adds company comments, details on costs and savings outlook)

By Martinne Geller

NEW YORK, Feb 12 (Reuters) - Molson Coors Brewing Co (TAP.N: Quote, Profile, Research) reported much higher-than-expected quarterly profit on Tuesday, boosted by cost savings and strong beer sales in the United States, helping to send its shares up 9.5 percent.

The maker of Molson Canadian and Coors Light, whose shares had lost nearly 11 percent over the past month, said fourth- quarter net income rose about 75 percent to $173.2 million, or 95 cents per share, from $99.2 million, or 57 cents per share, a year earlier.

Excluding special items, the company earned 73 cents per share, handily topping analysts' average estimate of 64 cents, according to Reuters Estimates.

"I think we surprised people by actually building momentum right through the fourth quarter (which) really reflects the strength of the core business," Kiely told Reuters, also pointing to a sales growth rate that outpaced the industry, a gain in Canadian market share and aggressive cost cuts.

Goldman Sachs analyst Judy Hong said the quarter's big surprise was the magnitude of cost savings at its U.S. and European divisions.

Overall marketing, general and administrative expenses were 3.3 percent lower in the quarter, as aggressive cost controls in Europe led to a 13 percent decline there.

The U.S. business saw $21 million in cost savings, the company said.