MELBOURNE (Reuters) - Foster's Group
But Australia's largest brewer also unveiled plans on Tuesday to make a A$500 million ($521 million) share buyback or capital reduction as a sweetener for shareholders, as part of its efforts to get SABMiller to increase its A$4.90 a share offer.
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Net profit before one-off items fell to A$494.9 million. After a loss on the recent demerger of Foster's wine business, Treasury Wine Estates
SABMiller took its offer direct to shareholders last week after Foster's board rejected the approach as significantly under-valuing the company.
Foster's shares closed on Monday at the A$4.90 offer price, indicating investors do not see much pressure on SABMiller to raise its bid significantly. ($1 = 0.959 Australian Dollars)
(Reporting by Victoria Thieberger; Editing by Lincoln Feast and Mark Bendeich)