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Lion Nathan delivers strong result

Published: Tue 18 Nov 2008 02:28 PM
MEDIA RELEASE
Lion Nathan delivers strong result
Investment in people, brands and breweries underpin result Revenue and earnings growth in all key business units Positioned for significant step-up in growth in FY09
18 November 2008:
Lion Nathan today announced a strong FY08 result characterised by healthy revenue growth and cash flow realisation. The Company made significant progress on its programme of investments in core business assets – people, brands and breweries - and remains on course to achieve a significant step-up in earnings in 2009.
Lion Nathan achieved a 4.2% increase in operating net profit after tax (NPAT) to $278.3 million for the twelve months to 30 September 2008. The Company achieved a reported NPAT of $272.7 million, including one-time costs from the acquisition of J Boag & Son (Boag’s) of $8 million ($5.6 million post tax), in line with previous guidance.
The Australian and New Zealand beer markets remain very robust despite the economic slowdown.
The FY08 result was achieved despite continued cost pressures, particularly from glass and malt. Lion Nathan CEO Rob Murray said: “I’m pleased to be able to say that we have achieved revenue and earnings growth across all our key businesses. We’re investing behind our core brands and developing new products under our key trademarks. This has driven growth in beer volume, value and market share in both Australia and New Zealand”.
“Our FY08 result reflects the positive momentum within our business. Our people are now focussed on achieving a significant step-up in profitability in FY09”.
Lion Nathan’s Board has declared a final dividend of 22 cents per share fully franked. This represents an increase of 4.8% on the FY07 final dividend. The total annual dividend was 42 cents per share, up 5.0% on total ordinary dividends in 2007.
ends

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