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FORSTER'S CONFIRMS EARNINGS FORECAST FOR 2005/06 FY.
MELBOURNE, Feb 1 Asia Pulse - Global beverages firm Foster's Group Ltd (ASX:FGL) today confirmed its earnings guidance for the 2005/06 financial year.
"Foster's has previously indicated 2006 year normalised earnings per share growth would meet the company's long-term growth target of 10 per cent on an AGAAP basis - based on normalised 2005 full year earnings per share of 28.3 cents per share," the company said.
"Following the restatement of 2005 full year normalised earnings per share under AIFRS to 27.0 cents per share, Foster's confirms that 2006 normalised earnings per share guidance is for growth of 12-14 per cent.
"The company would have expected similar growth had it continued to report under AGAAP for the 2006 year."
Foster's is required to adopt AIFRS (Australian equivalent to International Financial Reporting Standards) from 1 July 2005.
The company said key changes to comparative financial information on the transition to AIFRS for the year ended June 30, 2005 were:
* Net profit under AIFRS is $A919.9 million ($US696.55 million), which is ...
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Source: HighBeam Research, FORSTER'S CONFIRMS EARNINGS FORECAST FOR 2005/06 FY.