AUSTRALIA: Lion Nathan on target for 2004
Lion Nathan has today confirmed it is still on course to deliver its projected profit for the current fiscal year. The Australian company said that operations in fiscal 2004 will allow profits to rise by between 8% and 11% to between A$195m (US$145m) and A$200m as forecast last month.
The company also said its guidance of 5% growth in earnings before interest, tax, and amortisation should also be met.
According to Lion Nathan, three separate factors will affect earnings growth in its fiscal first half year ending 31 March. One-off restructuring changes of around A$5m pretax will be taken in the New Zealand and Australian beer business, while a weaker New Zealand dollar will result in a poorer translation of New Zealand earnings to Australian dollars. The company will also take a higher charge for corporate costs.
In a separate matter, Lion Nathan's search for a successor to Gordon Cairns, who announced his retirement as chief executive earlier this year, is "well advanced" with a shorlist of three.
After some less than successful diversification in recent years, Lion Nathan is focusing its attentions back on beer and winning the approval of analysts in the process. The company looks set to gain ...
Integrating spirits, wine and beer has proved problematic for major drinks groups over the years but expansionary moves by the two major Australian brewers, Foster's Group and Lion Nathan, suggest tha...
Lion Nathan has appointed a new non-executive director....
Coopers Brewery is fighting the takeover attempt from fellow Australian brewer Lion Nathan....
Lion Nathan today announced that it intends to make an off-market offer for Coopers Brewery Ltd (Coopers). The offer of A$260 per share in cash values Coopers at A$352m....
Lion Nathan has received further assurances that it is not about to be taken over....
Lion Nathan has played down speculation that it may be the subject of a takeover....
Lion Nathan has said it is on target to reach its full-year net profit after tax forecast for 2005 of between A$230m and A$235m before one-off charges....
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