NET PROFIT1 AND OPERATING CASH UP IN FIRST HALF
§ Net profit1 up 4.5% to $411.1 million
§ Operating cash flow pre interest and tax up 13.2% to $691.9 million
§ Interim dividend maintained at 12.0 cents per share
Foster’s Group Limited (Foster’s) today reported a 4.5% increase in net profit1 to $411.1 million, with earnings per share1 up 6.5% to 21.4 cents.
Cash flow remains excellent, with cash conversion up 6.6 percentage points to 92.5% of EBITDAS2 and cash flow pre interest and tax up 13.2% to $691.9 million. Cash flow after dividends was $155.9 million.
Net sales revenue increased 2.2% and earnings before interest, tax, significant items and SGARA (EBITS) increased 4.5%. On a constant currency basis net sales revenue declined 0.9%, EBITS declined 1.8% and earnings per share1 increased 0.9%. There were no significant items in the period.
“In the face of very unique global trading conditions, our balance sheet is strong, our medium term funding secure and we continue to generate outstanding operating cash flows,” said Ian Johnston, Chief Executive Officer.
Beer, Cider and Spirits (BCS) in Australia, Asia and Pacific (AAP) continued to perform strongly with beer net sales revenue in Australia up 6.2% and AAP BCS EBITS3 up 5.6% on a constant currency basis.
“We’ve seen a strong comeback in Australian beer with underlying volume up over 3% for the half and we finished the year with around a 52% value share of the Australian beer market4,” Ian said.
Appendix 4D - Half Year Report (PDF, 471 Kb)
