We are not amused
Foster’s 2004 annual report bears the slogan "Foster’s - part of the moment". Considering the group’s performance last year, it must have been a case of wishful thinking. Foster’s products cannot have been part of many ‘moments’ given that sales by continuing businesses fell 6 percent to AUD3.6 billion. The oversupply of cheap wine on the global market reduced Beringer’s 2003/2004 sales by 18 percent to AUD1.6 billion. Foster’s wine division earnings (EBITA) fell 32 percent to AUD292 million. Just as well that the CUB beer business had a 9.5 percent EBITA rise to AUD520 million with sales up 6.9 percent to AUD1.78 billion. Luckily, the sale of Foster’s leisure division ALH last year lifted net profit 73 percent to USD799 million. The offer was to save you AUD22.48..
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6 print issues