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Foster's Group Slips To Loss In FY10 On Wine Unit Writedown - Quick Facts

(RTTNews) - Australia's beer and wine maker, Foster's Group Ltd (FGL.AX,FBRWY.PK) reported full year net loss after tax attributable to members of Foster's Group of A$464.4 million, compared to a profit of A$438.3 million in the prior year.

The company stated that the loss was mainly due to pretax of A$1.3 billion writedown on its wine assets. Excluding writedown, the group reported a net profit of A$698.3 million, down from A$725.5 million a year ago.

Net sales revenue was A$4.29 billion, down 4.6% from A$4.49 billion a year ago.

The company did not declare a final dividend, but directors propose to put a resolution to its annual general meeting on October 26. If approved,the directors plan to declare a dividend that is anticipated to be broadly in line with prior year's final dividend of 15.25 Australian cents.

Foster's said its demerger remains on track to take place during the first half of 2011.