Foster’s Group Limited (Foster’s) today released fiscal 2009 comparative financial information in the segment reporting structure to be adopted in fiscal 2010. The segment reporting change affects only segment composition and does not change Foster’s fiscal 2009 results as previously reported to the market.
The revised segment reporting incorporates the requirements of AASB 8 Operating Segments and reflects changes to the management structure announced as part of the wine strategic review.
Foster’s revised segment reporting includes financial information on the following business operations:
• Carlton & United Breweries (CUB) which incorporates Foster’s beer, cider, spirits (BCS) business in Australia and Foster’s operations in Fiji and Samoa
• Australia and New Zealand (ANZ) Wine
• Americas Wine
• Europe, Middle East and Africa (EMEA) Wine
• Asia Wine
• Rest of world BCS which incorporates Foster’s BCS activities in EMEA, Americas, Asia and New Zealand
• Corporate
The allocation of shared fiscal 2009 overhead costs in Australia between CUB and ANZ Wine has also been adjusted to provide a comparable basis for actual overheads being incurred by the separate beer and wine businesses in fiscal 2010. The realignment of overhead costs is consistent with the detailed overhead cost analysis completed as part of the wine strategic review announced on 17 February 2009. In first half 2009 $31.7 million and for fiscal 2009 $60.0 million of overhead costs have been reallocated from CUB to ANZ Wine.
Foster’s will report first half fiscal 2010 results on 16 February 2010.
Further information:
Media Investors
Troy Hey Chris Knorr
Tel: +61 3 8626 2085 Tel: +61 3 8626 2685
Mob: +61 409 709 126 Mob: +61 417 033 623
ASX - New Segment Reporting Structure (PDF, 72 Kb)
