Lion Nathan brewing heady & #36;315m profit

said higher sales of popular brands such as XXXX Gold and Tooheys Extra Dry had helped boost total beer volumes for the nine months to June 30 by 3.3 per cent to 686 million litres. Revenue was up seven per cent for the same period. Lion Nathan also said that despite the impact of recent excise changes in the third quarter, spirits and ready-to-drink volumes were up. "The company remains confident of its ability to step up earnings in the 2009 financial year consistent with analysts' expectations of operating net profit after tax (pre significant and one-time items) in the range of $295 million to $315 million," Lion Nathan said. Analysts had expected the company to confirm guidance but said management credibility depended upon delivering a significant step-up in earnings in 2009. Lion Nathan chief executive Rob Murray said... [read full story]