Lion Nathan Operations and Financial Review for 12 Months Ended 30 September 2007

Nov. 21 - Lion Nathan today announced a 3.8% increase in operating net profit after tax (NPAT) to $267.2 million for the twelve months to 30 September 2007. After the impact of one-time items (OTIs) and individually significant items (ISIs), reported NPAT increased 24.4% to $282.1 million . This increase in reported profit was driven by a $48.0 million after-tax gain on sale of the current Auckland brewery site along with the release to profit of a provision surplus arising from the conclusion of a tax audit (net $9.5 million benefit after tax), which more than offset Project Invest costs of $27.6 million after tax and a write-down in the carrying value of the wine business of $15.0 million after tax.