MillerCoors profit up on higher beer prices

Posted May 4, 2010 at 6:29 a.m.

Associated Presss | Chicago-based MillerCoors says its first-quarter profit rose slightly on cost-cutting and higher prices even as sales of some brands slipped. The maker of Miller Genuine Draft and Blue Moon earned $208.6 million, That compares with $206 million a year ago.

Excluding charges of $8.6 million related to severance and relocation costs, profit was $217.2 million.

Revenue dipped 1 percent to $1.7 billion as sales of mainstay Miller Lite and Coors Light fell.

MillerCoors Brewing Co. says domestic net revenue per barrel increased
2.1 percent when removing contract brewing and company-owned
distributor sales.

MillerCoors, a joint venture made up of the U.S. businesses of Molson
Coors Brewing Co. and SABMiller PLC, saved $60 million in the quarter.


One comment:

  1. jack (the real one) May 4, 2010 at 8:34 a.m.

    Even though they don’t sell fizz (Miller High Life) to rich people? Must be making it up on Coors.