MillerCoors 3Q profit up on cost-control efforts
November 4, 2009
DENVER -- MillerCoors third-quarter profit climbed on cost-control efforts as well as the strength of beer brands like MGD 64.
MillerCoors' earnings rose 37 percent to $229.7 million compared with $168.2 million a year ago.
Revenue grew 3 percent to $2.01 billion, partly on MGD 64's strength, while sales of mainstay Miller Lite continued to soften.
The maker of Blue Moon and Miller Genuine Draft says its pricing remained solid, with domestic net revenue per barrel up 3.7 percent.
MillerCoors is a joint venture made up of the U.S. businesses of Molson Coors Brewing Co. and SABMiller PLC.