May 5, 2009 / 11:38 AM / 8 years ago

RPT-UPDATE 1-MillerCoors reports 1st-qtr profit

* MillerCoors Q1 adj net income was $68.5 mln

* Net sales up 3.8 pct to $1.72 bln (Refiling to add dropped word in paragraph 1)

NEW YORK, May 5 (Reuters) - MillerCoors, the combined U.S. operations of SABMiller Plc SAB.L and Molson Coors Brewing Co (TAP.N) reported first-quarter net profit of $68.5 million on Tuesday and further accelerated the timing of some merger savings.

MillerCoors, the second-largest beer company in the United States with brands such as Miller Lite and Coors Light, said net sales in the quarter rose 3.8 percent to $1.72 billion.

Domestic sales to wholesalers fell 1 percent in the quarter, while sales from wholesalers to retailers, a closer gauge of consumer demand, rose 0.4 percent.

The company, which was formed in July 2008, also said it realized $50.1 million of merger-related cost-savings in the first quarter, which captured some savings originally planned for the second quarter.

Molson Coors is due to report results later on Tuesday. (Reporting by Martinne Geller, editing by Maureen Bavdek)

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