MillerCoors reports profit increase on lower material costs, higher prices

MillerCoors today reported second quarter net income of $494.5 million, up from $451 million in the second quarter of 2014.

MillerCoors, a U.S. joint venture of Molson Coors Brewing Company and SABMiller plc, was launched on July 1, 2008. The brewer, which is based in Chicago, completes most of its brewing in Milwaukee.

The company attributed the higher profit to lower brewing and packaging materials and fuel costs, coupled with higher net pricing and supply chain cost savings.

Operating income was $493.3 million, up from $449.8 million in the same period a year ago.

Revenue totaled $2.2 billion in the quarter, flat from the second quarter of 2014.

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