In the engine room
It was not that long ago that CUB, Foster’s Australian beer division, used to be the group’s engine room, bringing forth the energy needed to fund Foster’s expansion into the wine industry. How things have changed. Now it’s the Beringer Blass wine division which helped fire up a 20.6 per cent rise in group profit in the six months to 31 December 2001. The AUS$322 million profit was built on a 20.2 per cent increase in revenue to AUS$2.6 billion and a 9.7 per cent rise in earnings per share to 15.9c. The result exceeded expectations. In a flat and mature market, Australian beer sales grew 1.0 per cent to AUS$801 million. However, Foster’s was confident that it would be able to achieve the forecasted 3-4 per cent rise in domestic beer sales for the full year. (Harvey)
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