Fosters post $7.37m profit

August 14, 2009 04:09:38 PM

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Fiji-based Australian beer maker Fosters Group Pacific Ltd posted a net profit of F$7.37 million for the nine months ended March 31, 2009. 

This compared favourably with the F$7.09 net profit it posted in the previous 10 months.

In an announcement last week at the South Pacific Stock Exchange, where it is listed, FGPL also declared a 15 cents per share interim dividend, a drop from the 20 cents per share dividend it paid out in the previous 10 months.

This equates to a total $1.5 million to be paid out in dividend, compared to over $2.6 million in the previous 10 months. 

Turnover for the beer company was F$32.9 million compared to $36.8 million in the previous 10 months. 

FGPL, which operates breweries in Fiji and Samoa, recently experienced a major change in shareholding, when second largest shareholder Fijian Holdings Ltd sold its 29 percent stakes to Australian beverage maker Fosters, increasing the latter’s shares in the company to 89.6 percent.

This was seen by Fosters as a strategic move which it said provided it with greater strategic alignment and flexibility with respect to ongoing investment and management of Foster's Pacific business.
Fosters post $7.37m profit

Fiji-based Australian beer maker Fosters Group Pacific Ltd posted a net profit of F$7.37 million for the nine months ended March 31, 2009. 

This compared favourably with the F$7.09 net profit it posted in the previous 10 months.

In an announcement last week at the South Pacific Stock Exchange, where it is listed, FGPL also declared a 15 cents per share interim dividend, a drop from the 20 cents per share dividend it paid out in the previous 10 months.

This equates to a total $1.5 million to be paid out in dividend, compared to over $2.6 million in the previous 10 months. 

Turnover for the beer company was F$32.9 million compared to $36.8 million in the previous 10 months. 

FGPL, which operates breweries in Fiji and Samoa, recently experienced a major change in shareholding, when second largest shareholder Fijian Holdings Ltd sold its 29 percent stakes to Australian beverage maker Fosters, increasing the latter’s shares in the company to 89.6 percent.

This was seen by Fosters as a strategic move which it said provided it with greater strategic alignment and flexibility with respect to ongoing investment and management of Foster's Pacific business.