Australia, Melbourne: Australia's second-largest brewer Lion Nathan Ltd. on Wednesday, December 15, confirmed its forecast for a 13 % to 16 % rise in this year's net profit. Lion Nathan Chief Executive Rob Murray said in a presentation prepared for the annual meeting that the company expected to post earnings before significant items of A$230 million to A$235 million ($175 million to $179 million) in the year ended September 30, 2005.
The brewer of Tooheys, Steinlager, XXXX and Hahn beers, which competes in the Australian market against Foster's Group Ltd. , posted earnings before one-off items of A$202.7 million for fiscal 2004.
Shares in Lion Nathan, 46 percent owned by Japan's Kirin Brewery Co. , were up 1.1 % at A$8.29 in afternoon trade in a wider market up 0.6 percent. ($1=A$1.32)
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