On the move
They are sitting on packed suitcases. Lion Nathan announced plans to move headquarters and its primary share market listing from Auckland to Sydney. This move across the Tasman is supposed to make access to global financial services and markets easier. More-over, the company derives more than 80% of its profits from Australia where it has 70% of its assets. Chairman Douglas Myers explained the change of domicile would bring a 20% increase in dividend payment which could rise to A$8c from NZ$8c. Lion Nathan announced half-year profits up 17% to NZ$97.1 million (US$45.4 million) for the six months to 29 February. For the same period, Lion Nathan’s share of the Australian beer market has risen by 0.5% to 41.6%.6% compared with Foster’s 85%. From presently 5.9%..
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