Cobra profits increase in year of lower revenue as Lord Bilimoria reaps the benefits

His Holiness Brahmrishi Shreekumar Swami Ji Honored at House of Commons

Cobra Beer co-founder Lord Bilimoria downed a cool £5.8m take-home after the company recorded a year of increased profits despite sinking revenues.

Cobra, a joint venture between brewer Molson Coors and Bilimoria, recorded a profit of £8.5m for 2016, up from £7.8m in 2015.

Turnover was down from £62m to £57m, but reduced spending on marketing and other operating costs meant the company was still able to turn a profit.

It paid out £8m in dividends during the year and £3.8m after the year end. Lord Bilimoria, who owns a 49 per cent stake, took home £5.8m.

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