News

AUSTRALIA: Foster’s wine business affects rating

Most popular

What rum needs to do to recognise its potential

Technology bringing tasting events closer to home

A-B InBev's Craft Brew Alliance purchase - Comment

What does Brexit mean for drinks trademarks?

How DNA testing will shape the future of drinking

MORE

Goldman Sachs JBWere's short-term recommendation on Foster's Group has been downgraded from "outperform" to "marketperform" due to concerns about the company's wine business outlook.

The drinks company retained its long-term "buy" recommendation today (15 February) after vowing to cut wine production costs and increase distribution scale to accelerate earnings per share growth.

Foster's Group first half net profit tumbled 62.4% this year, down to A$291.1m (US$214.4m) from A$773.5m in the same period last year. This is largely due to the prior period's A$471.1m sale of the company's property division.

The broker also lowered its fiscal 2006 net profit forecast for Foster's by 1.6%, to A$609.3m.


Sectors: Beer & cider, Wine

Related Content

Focus - Growing Pains for Chilean Wine

Focus - Growing Pains for Chilean Wine...

Wine review 2008 - Wine industry buffeted by economic storm

Wine review 2008 - Wine industry buffeted by economic storm...

Foster’s seeks licence to grow in Asia

Foster’s seeks licence to grow in Asia...

Accolade Wines silent on Italian winery report

Accolade Wines silent on Italian winery report...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?