Foster's Group Ltd chief executive Trevor O'Hoy resigned on Tuesday as the company announced an earnings downgrade and writedowns, saying it had paid too much for its wine assets.
Constant currency earnings per share growth is expected to be between five per cent and seven per cent in fiscal 2008, down from previous guidance of about a 10 per cent increase, the brewer and wine maker said in a statement.
The company said profit before tax, significant items and self-generating and re-generating assets (SGARA) for fiscal 2008 will be between $700 million and $715 million.
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Earnings per share is expected to be between 36.2 cents and 36.9 cents.
