MillerCoors reports strong quarter

SABMiller plc and Molson Coors Brewing Company reported that MillerCoors’ fourth quarter underlying net income increased 32.5 percent to $194.0 million.
The brewer reported a 2.7 percent increase in underlying net income for 2011.
The company’s Tenth and Blake Beer Company division of craft and imported beers, including Leinenkugel’s, Peroni Nastro Azzurro and Blue Moon Belgian White, continued to propel the company’s sales.
"By raising the bar on execution, increasing net revenue per barrel and over-delivering on our synergy and cost savings goal, we grew underlying profit in a tough year," said MillerCoors chief executive officer Tom Long. "In 2011, we grew Coors Light to become the nation’s second biggest beer brand, surpassing Budweiser for the first time ever. We also saw strong growth in our craft and import brands like Blue Moon, Leinenkugel’s and Peroni Nastro Azzurro and we improved our brand mix. Our investment with retail chains is paying off as our distributors execute with focus and discipline against new category management approaches."