Molson Coors, MillerCoors 1Q Profit Rises

EMILY FREDRIX

MILWAUKEE (AP) — Molson Coors Brewing Co. said Tuesday its first-quarter profit more than doubled, though sales of its beers fell in its stronghold of Britain and stagnated in Canada. In the U.S., profits rose in its MillerCoors joint venture, even as sales of flagship Miller Lite continued to fall.

Chief Executive Peter Swinburn said the company is making growing Miller Lite its top priority, and that effort will start with a new marketing push touting the beer's taste. Miller Lite, which saw volume slip 4.5 percent in the most recent quarter, has been declining for the last 12 months, though Swinburn said the drops are moderating from steeper declines.

The company has been easing its discounting of Miller Lite to build its brand equity, Swinburn told The Associated Press in an interview. Now it's ready to add what Swinburn called a sizable marketing campaign.

"Then you can engage the consumer," he said. "Really that's a very basic, straightforward belief that we have. You've got to have strong brands in the first place."

A turnaround for Miller Lite, which leads the MillerCoors portfolio along with Coors Light, won't take place immediately, he said. But it should happen in the next 12 months as the company pushes the beer's taste and the use of three hops in the brewing process.