MillerCoors 4th-quarter Profit Falls 40%

By: AP
By: AP

DENVERMolson Coors Brewing and SABMiller say fourth-quarter profit for their joint venture MillerCoors declined 40 percent partly on a decline in sales to retailers.

MillerCoors earnings fell to $54.1 million from an adjusted profit of $90.7 million in the year-ago period.

Excluding integration charges related to the joint venture, profit climbed to $135 million from $116 million a year ago.

Revenue for MillerCoors grew 3.1 percent to $1.74 billion.

Sales to retailers dropped 2.3 percent on weakness in Miller Lite and some above-premium brands.

Domestic net revenue per barrel climbed 8 percent.

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