By Nick Stride
Friday 17th May 2002 |
Text too small? |
The result was up 12.5% on last year's $A89 million.
Overall earnings before interest, tax and amortisation from brewing rose 7% to $A217.3 million but the China operation continued to lose money.
The New Zealand liquor business increased earnings, volumes and market share.
Mr Cairns said the company had benefited from concentrating on improving margins and securing distribution rather than "relying on the market share metric."
Operating cashflow after working capital movements rose 27% to $A58.3 million. The ratio of net debt to equity was 70.3%, down from 86.6%.
Mr Cairns said Lion had made excellent progress in bedding down the acquisitions of Australian winemakers Petaluma and Banksia, of which Lion now owns 85%.
No comments yet
Spark Finance extends standby facility
AIA - Auckland Airport considers retail bond offer
VGL - 2024 Shaw & Partners Tech Conference Presentation
April 29th Morning Report
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness