“Our consistent focus generated positive net revenue per barrel growth for the fourth quarter. We are building brand equity and improving our mix to meet the challenges ahead in 2011.”
MillerCoors fourth quarter underlying net income, excluding special items, increased 38.0% to $146 million compared with the prior year period, while full year underlying net income increased 21.9% to $1.087 billion behind positive pricing, favourable brand mix, and continued strong cost management. While industry volumes remained soft in the quarter, MillerCoors’ Premium Light portfolio saw continued trend improvements.
“We continue to invest in innovation behind our premium light brands, drive growth in our craft and import portfolio and deliver synergy and cost savings as promised,” said Leo Kiely, chief executive officer, MillerCoors. “Our consistent focus generated positive net revenue per barrel growth for the fourth quarter. We are building brand equity and improving our mix to meet the challenges ahead in 2011.”
Key operating results for the fourth quarter are compared to the prior year comparable quarter and include MillerCoors operations in the US and Puerto Rico.
Source: MillerCoors
© FoodBev Media Ltd 2024