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MillerCoors 1Q Profit Rises On Higher Prices

Stock quotes in this article: SAB , TAP  

DENVER (AP) — Molson Coors Brewing Co. and SABMiller PLC said Tuesday that the first-quarter profit for their U.S. joint venture MillerCoors LLC rose 51 percent as sales of Coors Light and other brands were helped by higher prices and fewer promotions.

MillerCoors, the nation's second-largest beer company, said it earned $206 million for the period ended March 31 compared with year-ago pro forma profit of $136.6 million.

Excluding employee relocation and retention costs, net income was $216.4 million. ...

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