British brewer Scottish & Newcastle reports a loss in 2007

0 Comments | AFP, February, 2008

LONDON (AFP) — Scottish & Newcastle, the British brewer being bought by Carlsberg and Heineken, said Tuesday it made a loss of 105 million pounds (139 million euros, 204 million dollars) in 2007.

The unexpected loss was the result of an exceptional charge linked to the sale of its loss-making French distribution unit, said the brewer whose brands include Kronenbourg 1664 and Foster's.

Scottish & Newcastle had made a net profit of 303 million pounds in 2006.

Last November, the company announced plans to sell a large part of its unprofitable French distribution businesses for about 85 million pounds to independent wholesaler Centrale Europeenne de Distribution.

"The transaction has resulted in a loss on disposal of 376 million pounds," S&N said...