Foster’s H1 Disappoints, Sees Improvements Ahead

"Recessionary conditions" in the Americas was the "key contributor to the decline in wine earnings," in the six months ended December 31, said Foster's ceo Ian Johnston. Declines in the on-premise and independent retailers have been offset by growth in grocery and clubs channels, where competition is "intense," said the company. Oversupply of Australia and New Zealand wines have also taken a toll, along with unfavorable exchange rates in the US.

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