LNN lion nathan limited

fy08 net profit $272.7m final div 22c

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    Sydney - Tuesday - November 18: (RWE Aust Business News) - Lion
    Nathan Ltd (ASX:LNN) reported a net profit of $272.7 million for the year
    to September 30 2008, down 3.3 per cent compared with FY07.
    Revenue was up 7.2pc to $2.15 billion.
    A final dividend of 22c, fully franked, will be paid January 15
    with record date December 19.
    Earnings per share was 51.2c against 53c.

    *****
    Outlook
    The company is on track to step up earnings and expects operating
    FY09 net profit in the range of $300m to $315m.
    The company said the investments made over the last three years
    have built a stronger business.
    Lion Nathan said demand for its core beer product is stable and
    underpins its robust earnings.

    *****
    Result
    Operating EBIT was up 7.3pc to $507m.
    Excluding Boag's, Lion Nathan Australia grew beer volumes by 0.5
    per cent against the market which grew slightly (0.1pc).
    Net sales revenue grew by 6.5pc, assisted by positive mix shifts
    to Power brands and step-up brands.
    Including Boag's net sales grew by 11.3pc and the Boag's business
    represents a key growth driver for FY09.
    Operating EBIT in Australia was $446.1m, up 7.9pc.
    New Zealand operating EBIT was up 3.8pc to $NZ90m.
    The NZ market performed well, the company said, with a return to
    growth at an operational level accomplished through a "one business"
    approach.
    Wine operating EBIT was up 22.5pc to $15.8m despite
    lower-than-anticipated sales in the US market, which was adversely
    affected by the sale of distributor, Bearn Wine Estates, to Constellation
    Brands in November 2007.
    Wine volumes were up 2.5pc overall, with lower sales to the USA
    offset by a strong performance by Fine Wine Partners in Australia.
 
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