Cobra Beer posts annual loss

The first set of accounts from the Cobra Beer Partnership show a loss of £475,000 in 2009, on turnover of £24.7m. The joint venture was formed last year after American brewer Molson Coors bought the brand out of administration. The company will however pay a dividend of £1.1m to its two shareholders, Molson Coors and Bilimoria Holdings. The latter is owned by Cobra founder Lord Bilimoria, who set up the company 21 years ago.