Molson Coors reports 11% rise in sales
Carling brewer Molson Coors has reported an 11% rise in sales in the UK and Ireland for 2010, citing a "strong focus on pricing" and "improved cost performance".
Pre-tax earnings grew by 24%, although underlying earnings factoring in pensions expenses fell 6.3% to £64.5m.
A 13% rise in marketing investment for Carling delivered a slight increase in market share (0.4%) for the brand, and "improved share trends" across its other products.
Last year the company added Corona, Singha and Blue Moon to the portfolio, and opened the £1m William Worthington ale brewery.
Chief executive Mark Hunter said: "We continued to drive innovation into the market in 2010 with the launch of Carling Taste-Lock Cans and Coors Light Cold-activated labels, achieved significant customer wins with increased brand distribution in JD Wetherspoon, Barracuda and NUS bars and agreed a long-term contract-brewing arrangement with Carlsberg to brew Tetley ale for the UK market, beginning in 2011.
"The first quarter of 2011 has seen our brand building momentum continue with the addition of Sharp's Brewery and range of cask beers, including the flagship Doom Bar brand, the number one selling cask brand in the South West and Wales and the fastest growing cask brand in Greater London.
"2010 saw us stay true to our value-over-volume strategy, building our brands with improved investment and introducing value-enhancing innovations.
"We closed the year with final quarter share growth on the UK's best selling lager brand, Carling, and we have opened 2011 with the addition of Sharp's Brewery; cementing Molson's Coors claim to have built the UK's most diverse beer portfolio."
