The Cobra Beer Partnership, a joint venture between Molson Coors and the brand’s founder Lord Karan Bilimoria, registered a pre-tax profit of £4.9m in 2010 on sales of £48m.
The venture was formed after Cobra went into administration in May 2009. Molson has a 50.1% stake and Bilimoria owns 49.9%.
Before administration, the brand had moved away from its Indian positioning in favour of pushing the brand in pubs and bars. The Partnership, however, has marketed the drink as one to be enjoyed with spicy food at home and in restaurants.
Adrian Davey, managing director of the Cobra Beer Partnership, says: “Up to this point, the Cobra Beer Partnership has been about stability and ensuring the long-term health of both the brand and the business.
“This past year we invested £3m in our marketing budget and plan on increasing this again in 2011 to £5m to ensure we continue to build the brand. 2011 marks a new chapter and we are very excited as Cobra moves on to the next stage of its brand evolution.”