Foster's says beer volumes to slide further in fiscal 2011

on 21/10/10 at 10:28 am

Industry

UPDATE 1-Foster’s beer volumes fall; wine spinoff on track´╗┐.

Foster’s Group (FGL.AX), Australia’s largest brewer, gave a subdued outlook for its core beer market on Thursday, with sales volumes in decline, but said it was on track to spin off its wine business early next year.

Foster’s soft beer outlook, linked to a weakening in Australian consumer sentiment, will be of interest to global rival SABMiller (SAB.L) (SABJ.J) which, according to sources, has appointed advisers to look at buying the beer assets.

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