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Foster's Group sales rise 16%

Published:  23 July, 2008

Foster's Group has reported a 16% gain in second-half earnings on sales of more-profitable beers and higher-priced wine.

Sales in the Americas were driven by the Chateau St Jean and Stags's Leap labels, with Foster's getting growth from eight of the nine Californian brands it sells for more than $10 (4.05) a bottle.

Earnings from Europe, Africa and the Middle East rose 2% to A$43.m (17.6m).

O'Hoy agreed in April to sell his Australian Cellarmasters wine club, which sells direct to mailing-list customers, to buyout firm Archer Capital Pty, after selling similar businesses in Europe and the US.