Foster’s Group is set to report its half-year results tomorrow (16 February).
Here, just-drinks takes a look at the highs and lows for Foster’s in the three months to the end of December.
- In October last year, Foster’s signed a deal to offload 13 of its wine brands in Australia to a joint venture with Vok Beverages. While Vok will handle sales, marketing and general management of the brands, Foster’s will continue to produce the wine.
- In a trading update for the first six months of its fiscal year, Foster’s warned in December that it expects to take a hit of between AUD80m (US$71m) and $90m on the half-year earnings from its wine division, due to Oversupply, weak consumer spending and unfavourable currency rates in the period.
- Last month, John Pollaers was appointed managing director of Foster’s Australia-based beer arm, Carlton & United Breweries (CUB). Pollaers, who takes up the role in April, was previously at Diageo, where he had been president of its Asia Pacific operations.
- Also in January, CUB confirmed to just-drinks that it will spend close to AUD30m (US$27.8m) on its Victoria Bitter (VB) brand in the next year. VB has seen its Australian market share fall by around 5% to 15-16% in the last few years.
- Then, last week, Foster’s sealed an early extension of its exclusive licence to sell and market Grupo Modelo’s Corona Extra beer brand in Australia. Corona is the top premium imported beer in Australia, Foster’s claimed.
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