DENVER (AP) – MillerCoors, a U.S. joint venture between Molson Coors Brewing Co. and SABMiller PLC, said Wednesday that its third-quarter profit climbed on cost-control efforts as well as the strength of beer brands like MGD 64.

The maker of Blue Moon and Miller Genuine Draft said its earnings rose 37 percent to $229.7 million compared with a pro-forma profit of $168.2 million a year ago.

Excluding pension related charges and other items, profit increased to $244.4 million from $190.8 million.

Revenue grew 3 percent to $2.01 billion from $1.95 billion, partly on MGD 64’s strength, while sales of mainstay Miller Lite continued to soften.

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See related story:

A look at new lower-calorie beers from big brewers Anheuser-Busch InBev and MillerCoors and how they compare with others:

MILLERCOORS:

Miller Genuine Draft 64: 64 calories, 2.8 percent alcohol

Miller Lite: 96 calories, 4.2 percent

Miller Genuine Draft: 143 calories, 4.7 percent

ANHEUSER-BUSCH:

Select 55: 55 calories, 2.4 percent alcohol

Budweiser Select: 99 calories, 4.3 percent

Bud Light: 110 calories, 4.2 percent

Budweiser: 145 calories, 5 percent

Copyright 2009 The Associated Press.

MILWAUKEE (AP) – How low can beer makers go? Having conquered the beer-belly set, some of the nation’s biggest brewers are trying to win over the six-pack-ab crowd with ultra-low-calorie suds.

The question is: Are drinkers willing to sacrifice flavor and a bit of the buzz? And: How long before beer gets turned back into water?

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Date: 08/25/2009 05:24 PM
The Associated Press

The nation’s top brewers said Tuesday they plan to raise prices this fall, even as some of their top brands are seeing sales volume drop.

Anheuser-Busch, maker of Bud Light and Budweiser, and MillerCoors, maker of Blue Moon and Miller Light, both say they’re going to raise prices.

But neither brewer would say how big the increases would be.

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Date: 08/03/2009 09:09 AM

DENVER (AP) – Brewer Molson Coors said Monday its second-quarter profit doubled as it raised prices and cut costs, despite selling less beer.

Meanwhile, profit at Molson’s joint venture with SABMiller’s U.S. unit – called MillerCoors LLC – rose 75 percent to $304.9 million.

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Date: 05/14/2009 08:06 AM

JANE WARDELL
AP Business Writer

LONDON (AP) – SABMiller PLC, brewer of Grolsch and Peroni Nastro Azzurro lagers, posted a 7 percent fall in full-year net profit after the economic downturn escalated, adding on Thursday that there “remains little visibility” about the timing of a recovery in consumer demand.

The world’s No. 2 brewer said it would scale back costs and investment – but also underscored its plans to invest selectively by announcing it planned to acquire the outstanding 28.1 percent minority stake in its Polish subsidiary, Kompania Piwowarska S.A., from Kulczyk Holding S.A. in a deal worth $1.1 billion.

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Date: 03/04/2009 02:12 PM
By EMILY FREDRIX
AP Food Industry Writer
MILWAUKEE (AP) – MillerCoors said Wednesday that growing its premium light brands, including slumping flagship brew Miller Lite, will be key to its success.

MillerCoors Chief Executive Leo Kiely told a gathering of analysts that MillerCoors, a joint operation between Molson Coors Brewing Co. and SABMiller’s U.S. unit, is cutting costs despite high input costs and a weak economy. MillerCoors, which started operating in July, is on track to meet its target of saving $500 million in costs by 2011.

But key to the company’s long-term growth, he said in comments webcast from New York, will be expanding its top-selling light brands like Coors Light and Miller Lite, which compete in the light beer segment that dominates the U.S. market.

Coors Light has been growing steadily, while Miller Lite sales have been falling. Miller Lite sales to retailers dropped 7.5 percent in the three-month period ending in December, while Coors Light sales grew 1 percent.

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