UK: Cobra Beer increases turnover and profits in latest financial year
Cobra Beer, which was founded by Lord Karan Bilimoria in 1989, brewed up a rise in both its turnover and profits during its latest financial year, new accounts have revealed.
Beer manufactured by the Burton-upon-Trent-headquartered company is sold across the UK, India, Europe, Middle East and East Asia.
The beer is mainly brewed in Staffordshire, Rodenbach in Belgium and in Patna in the Indian state of Bihar while Molson Coors now holds a controlling interest in the company.
Molson Coors, which also has its UK headquarters in Burton-upon-Trent, is Cobra's only customer and acts as the distributor of the beer.
New accounts for Cobra Beer Partnership have revealed the company made a turnover of £57.1 mln for the year to 31 December 2017, up from £56.8 mln in the prior 12 months.
Its pre-tax profits also rose from £6.7m to £7.2m over the same period.
A statement signed off by the board said: "Management continue to monitor consumer trends to ensure that the Cobra brand is well positioned to adapt to any changes in trends."
Lord Bilimoria, who is the company's chairman, has also served as its chief executive and was created a life peer in 2006.
The new accounts come almost a decade after the company went into administration in May 2009 after owing an estimated £70m to creditors.
Molson Coors paid in the region of £14 mln for a 50.1 per cent share, leaving Lord Bilimoria and other shareholders with the remaining 49.9 per cent stake.
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