AUS: Foster's reports annual loss of $93m
AUS: Foster's reports annual loss of $93m
Aug 23, 2011 6
Australian brewer Foster's has reported an annual loss as it tries to fend off a hostile takeover bid by SABMiller.
Foster's reported a loss of 89m Australian dollars ($93m; £56.5m) for the year ending 30 June.
Despite the loss, Foster's said it planned to return A$500m to shareholders.
The move comes after Foster's rejected a $10bn takeover offer from SABMiller, saying the bid significantly undervalued the company.
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