Melbourne, Nov 18 - Lion Nathan Ltd, Australia's second-largest brewer, reported a 4 percent rise in full-year operating profit on Tuesday, aided by growth in premium beer sales.
Lion Nathan, rebuffed on Monday in a A$7.6 billion takeover ($4.9 billion) offer for Australia's top soft drinks group Coca-Cola Amatil Ltd, raised the bottom end of its forecast for 2009, saying it now expected a net profit between A$300 million and A$315 million.
Net operating profit before one-offs rose to A$278.3 million for the year to September, up from A$267.2 million a year earlier, slightly ahead of analysts' average forecast of A$275.6 million, according to Reuters Estimates.
Lion Nathan shares have fallen only 7 percent so far this year, about one-sixth the fall suffered in the broader market , as Australians keep drinking beer even as they trim spending. ($1=A$1.54)