MillerCoors 1Q profit rises on cost controls

NEW YORK (AP) - MillerCoors says its first-quarter profit rose slightly on cost-cutting and higher prices even as sales of some brands slipped.

The maker of Miller Genuine Draft and Blue Moon earned $208.6 million, That compares with $206 million a year ago.

Excluding charges of $8.6 million related to severance and relocation costs, profit was $217.2 million.

Revenue dipped 1 percent to $1.7 billion as sales of mainstay Miller Lite and Coors Light fell.

MillerCoors Brewing Co. says domestic net revenue per barrel increased 2.1 percent when removing contract brewing and company-owned distributor sales.

MillerCoors, a joint venture made up of the U.S. businesses of Molson Coors Brewing Co. and SABMiller PLC, saved $60 million in the quarter.