Australasian brewer Lion Nathan has today reported a half year profit to March 31 of $A89 million ($NZ110.44 million), up from $A76.7 million ($NZ90 million) a year ago.
The company also posted an 8c half year dividend, compared with 6.3c in the six months to February 29, 2000.
Lion, which has hitthe headlines on this side of the Tasman recently as it locked horns with Britain's Allied Domecq over control of winemaker Montana, said the outlook for the coming year was positive.
It expected losses in its China operations to be offset by improved beer sales in Australia.
"A strengthening brand portfolio, a commitment to innovation and momentum in Victoria will drive earnings growth in the second half," the company said.
In New Zealand, stable pricing, broadening the business - including the Montana acquisition - and strategies to generate "moderate" growth would improve momentum.
The company now owns almost 62 per cent of Montana, after moving to 51 per cent during the period.
On a geographic breakdown, Lion's pre-tax operating profit was: Australia $A159.3 million vs $A153.4 million; New Zealand $A55.0 million vs $A36.0 million; China loss $A12.9 million vs loss $A15.7 million
