Strong beer sales help Australia’s Foster’s

MELBOURNE – Brewer and winemaker Foster’s Group Ltd.reported a 90 per cent rise in fiscal first-half net profit to 553,5 million Australian dollars (US$435 million) from A$291 million a year earlier.

Strong beer sales in the Asia-Pacific region were a key factor in the result, but the wine business was “disappointing,” the company said yesterday. Net profit before significant items increased 11 per cent to A$363,3 million for the six months to December 31, 2006, the Melbourne-based company said in a statement.The company said trading conditions in all regions through January were strong, and that it expects accelerating earnings per share growth in fiscal 2007.Foster’s declared an interim dividend of 10,75 Australian cents a share, up from 9,75 cents a year earlier.Nampa-APNet profit before significant items increased 11 per cent to A$363,3 million for the six months to December 31, 2006, the Melbourne-based company said in a statement.The company said trading conditions in all regions through January were strong, and that it expects accelerating earnings per share growth in fiscal 2007.Foster’s declared an interim dividend of 10,75 Australian cents a share, up from 9,75 cents a year earlier.Nampa-AP