Jul 28 2010
Australian Shares To Buy Fosters Group
Australian Shares To Buy Fosters Group
Fosters Group (FGL) is a brewing and wine company with a global presence, and whose core operations include Carlton and United Breweries, Beringer Blass Wine Estates, and Fosters International.
FGL has experienced difficulties over the last two years, mainly owing to its underperforming wine division, after the group took over Southcorp in 2005.
The company today impressed the market with plans to demerge its beer and wine division, which will cost the group up to $1.3 billion in a one-off charge, but makes excellent strategic long-term sense. The decision also appears to make FGL one of the australian shares to buy.
FGLs underlying FY earnings forecast is between $1.05 billion-$1.08 billion, roughly in line with market forecasts.
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