For the year to December 28, Coors said income before tax slipped to $254m from $257m. Group sales rose to $5.39bn from $4.96bn.
Total marketing and admin costs came in at $48.7m - of which $30m was spent in Europe.
In the UK Carling lager saw high single-digit growth. But volumes of Grolsch fell in the fourth quarter, as Coors focused on “off-trade margins, in contrast to aggressive discounting a year ago”.
Stateside Coors said sales dipped due to competition from low-carbohydrate beers - it is set to launch its own low-carb beer, Aspen Edge, in March - as well as supply chain disruption due to a new system.