MillerCoors said cost cuts and price increases helped it improve third-quarter profit 36 percent despite soft sales in a “sluggish U.S. beer market.” Excluding special items, net income increased to $334 million from a year ago. Get the full story »
SABMiller
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SABMiller, others eye Foster’s beer unit
Brewing groups SABMiller and Asahi Breweries are looking at Foster’s Group’s beer operations, valued at more than $10 billion, but have not yet made any formal offers, sources said. Long-running interest in the Australian brewer’s beer business, know as Carlton & United Breweries, resurfaced on Monday after newspaper reports said SABMiller was considering buying Australia’s biggest brewer.
Foster’s said in May it would split the beer unit from its ailing wine business, putting its valuable beer operations with brands including Foster’s Lager, Victoria Bitter and Pure Blonde at the centre of takeover talk in the brewing world. Get the full story »
MillerCoors profit up 28% as sales declines ease
MillerCoors says its second-quarter net income rose 28 percent as it benefited from cost-cutting and a smaller decline in the amount of beer sold.
The U.S. brewer of Molson Coors and SABMiller brands says revenue edged down less than 1 percent to $2.13 billion. The company’s sales to retailers fell 2.4 percent. The declined eased from the first quarter, when the figure fell 4 percent.
