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Foster's Group, Australia's largest brewer, has missed forecasts with a 13.5 per cent slide in first-half profit as it lost market share in beer and wine earnings slumped.
But its beer volume in Australia declined 1.1 per cent even as industry volume gained 1 per cent as consumers flocked to premium, imported and low-carb beers.
Probably the biggest weakness is in the beer business, which is surprising. The beer market in Australia is very strong at the moment and yet they show a 1 per cent volume decline.
3 Comments Add this link to... Bury
But its beer volume in Australia declined 1.1 per cent even as industry volume gained 1 per cent as consumers flocked to premium, imported and low-carb beers.
Probably the biggest weakness is in the beer business, which is surprising. The beer market in Australia is very strong at the moment and yet they show a 1 per cent volume decline.
3 Comments Add this link to... Bury
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Comments
I am crying the driest of tears. It is amazing that they are where they are today. LN make smart moves. Fosters desperately clutch at preserving their ageing portfolio.
It is as though they have not yet noticed that the year does not start with a 198.
It's only a matter of time before someone tries to buy them.