Foster’s Australian for ... wine
They will soon have to rephrase their famous tagline. According to Foster’s CEO, Ted Kunkel, serious consideration was given by the board to change the name for Foster’s Brewing Group (FBG) to reflect the changed status in the beverage and hospitality world. Foster’s expanding wine division, Mildara Blass, has already been renamed to Beringer Blass Wine Estates.
Forecasts indicate that earnings from Foster’s wine division will overtake those from beer in the next 18 months. FBG reported a 20.5 % increase in net profit (pre-abnormals) to A$293.1m (US$143m) for the half-year ended 31 December 2000. The result was ahead of market expectations. Analysts in Australia said that a three month earnings contribution (EBIT) from the newly acquired Beringer of A$63.6%..
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