AUS: Lion Nathan raises 2009 guidance
Australian brewer Lion Nathan has raised its 2009 outlook, despite "volatile" economic conditions and a "challenging" financial year.
The company said this morning (18 November) that it remains confident of an "earnings step up" in the new financial year and that it now expects a net profit of between A$300m (US$193.9m) and A$315m.
Lion Nathan posted a 4.2% increase in operating net profit after tax (NPAT) to A$278.3m for the twelve months to 30 September, attributing the rise to growth at the company's Australia, New Zealand and Wine divisions.
The result was also fuelled by the success of recent new products and increased brand investment, said the group, which is a subsidiary of Japan's Kirin Holdings.
Net profit after tax fell 3.3% to A$272.7m, due to a one-off charge related to the group's acquisition of J Boag & Son.
The firm said that the Boag's business beat forecast earnings of A$10m by more than 10%.
Lion Nathan has refused to back down, and today issued more details of its offer for CCA.
Kirin Holdings has wasted no time in implementing its new strategy to expand across Asia Pacific and reduce reliance on domestic beer sales....
Champagne and Cognac group Rémy Cointreau watched its full-year sales slip by 11.6% this week as demand for premium alcohol continued to drop. Michelle Russell assesses the group's prospects....
Kirin Holdings has reported net losses of JPY6bn for the first quarter of 2009, but the group maintained its full-year guidance after rises in sales and operating profits....
Japanese brewer Kirin Holdings has said it hopes to complete a buyout of all outstanding shares in Lion Nathan by October this year....
Australian brewer Lion Nathan has said that it expects to become a wholly-owned subsidiary of Japan's Kirin Holdings within the next week....
The top ten stories published on just-drinks this week:...
Kirin Holdings has acquired a 19% stake in Philippines-based San Miguel Brewery for PHP26.2bn, the Japanese brewer has said....
Japanese brewer Kirin Holdings has agreed to buy up the remaining shares in Australia's Lion Nathan for A$3.3bn....
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Review of the Year 2014 - Part IV: Spirits
- Coca-Cola to get boost from Monster in China
- CCE shows faith in Coca-Cola Life with full launch
- Sustainability in Wine - Part IV
- Belvédère to sell assets, streamline portfolio
- Diageo welcomes verdict on Crown Royal "confusion"
- Bacardi, Pernod Ricard welcome US-Cuba deal
- United Spirits bids for distribution deal approval
- Gruppo Campari US unit head steps down
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- just-drinks on-trend: Craft beer - fortunes and future
- Global market review of non-Scotch whiskies – forecasts to 2018