Solid results
In November, Lion Nathan reported that Net Profit after Tax (NPAT), before significant items, grew 12.5 percent to AUD202.7 million during the fiscal year 2004. Operating cash flow was up 2.5 percent on the same period to AUD274 million. During the year Lion Nathan took a number of significant strategic initiatives and reviewed the carrying value of its assets which had a one-off impact on the reported result for the 2004 fiscal year. The major items were the sale of its Chinese beer business (realising a profit of AUD104.1 million) in September to SABMiller, the sale of its Victorian hotel portfolio, HMC (a loss of AUD34.2 million) and an AUD71.5 million write-down in the carrying value of its Australian wine business.6 million, reducing reported NPAT to AUD160.1 million.9 million..
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