Lion Nathan hit with tax bill for 2000 and 2002

MELBOURNE - Lion Nathan Ltd said a A$27.7 million ($31.8 million) tax bill issued today for the 2000 and 2002 financial years will have no impact on its current operating profit guidance.

The trans-Tasman brewer said that, after an audit, the Australian Tax Office issued amended assessments for A$19.7 million of primary tax and a tax deductible interest bill of A$11.3 million, to be paid next month.

Lion Nathan said the net cost of A$27.6 million was fully provided for in prior financial years so the payment won't have any impact on the group's 2007 profit guidance.

Shares in Lion Nathan firmed three cents to A$8.07 by 1010 AEDT.

- AAP