Foster’s Group Limited announced on August 26 the results for the full year ended 30 June 2003. The company reported net profit after tax of $462.9 million and earnings per share of 22.3 cents, which includes a one-time charge of $105.2 million (after tax) primarily due to the outcomes of the Carlton and United Breweries (CUB) operational review.

Carlton and United Breweries has posted a 6.5% increase in earnings before interest, tax, amortisation and significant items (EBITA), continuing substantial cash flows and a 210 basis point ROCE improvement to 26.8%.

Foster’s Group has registered an Australian Beer EBITA of $463.1 million, 7.6% higher than the previous comparative period on the back of volume growth of 1.0%.

International beer business reports posted 25.5% EBITA growth and improved returns.

26 August, 2003