Lion Nathan revises profit guidance

Transtasman brewer Lion Nathan Ltd has revised its guidance for net profit for the 2008 financial year to between A$265m-A$275m.

In November last year, Lion Nathan forecast a net operating profit in a range of A$270 million to A$280 million for fiscal 2008, and then a "significant step-up" in earnings from fiscal 2009.

That guidance excluded the impact on earnings of the group's A$325 million acquisition in November of Tasmanian beer maker J Boag and Son Pty Ltd (Boag's).

Lion Nathan said the acquisition of Boag's would have a negative impact of A$13 million on net profit for 2008.

- AAP