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Lion Nathan boosts profit 13% on premium beer sales

Lion Nathan boosts profit 13% on premium beer sales

Beer maker Lion Nathan boosted its full-year profit 13% to $313.1 million, on the back of strong premium and mid-strength beer sales.

The company’s revenue grew 7.1% to $2.24 billion. In Australia, revenue increased 11%, with total volumes increasing 4.7% compared to average market growth of 4.2%.

Boag’s shipments increased 19%, while Hahn Super Dry lifted volumes over 40%.

The company’s New Zealand operations struggled under the difficult market conditions there, but kept its volumes stable even while the overall market fell 2.7%. While Beer volumes fell 2.3%, wine, spirits and pre-mixed drink volumes increased 13.1%.

The company did not provide an earnings forecast for FY10.

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