Foster’s profit up
For the year ended 30 June 2000, Foster’s announced a 16% increase in net profit to A$427.8 million. Strong growth from the wine and leisure businesses and high returns from the beer business contributed to the result. Profit before interest and tax from the wine division rose 28.7% to A$154.3 million; Australian beer generated a profit of A$384.6 million; Foster’s Brewing International achieved a first time profit of A$6.6 million compared with a loss of A$11.9 million last year. Leisure and Hospitality grew profit by 35.7% to A$110.2 million.
In his statement, Foster’s CEO Ted Kunkel called the Australian beer interests represented by CUB "the engine room" of the group which produced "increased cash to fund growth in other parts of the group".25 million hl for the first time..
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