... 7.7% and 16.5% respectively - and their global market brand recognition, make Heineken a solid investment. Foster's has shown itself to be the best Australian performer with net profit margins consistently over 11% due to its dominance of the Australian market. Its successful move into the wine business has delivered higher growth than its direct competitor LNN, which has not consolidated its wine acquisitions. Interbrew is an aggressive company with an eye for the future, particularly in emerging markets. Although strong, Interbrew is in a stabilisation period and still lacks brand awareness on the level of Heineken. ECONOMIC OVERVIEW AUSTRALIA The Reserve Bank of Australia (RBA) increased official interest rates by 50 basis points over the last quarter of 2003, fearing risks to the economy of excessive consumer credit and movements in residential property. The Australian dollar rising above 75 US cents increases pressure on companies' offshore revenue. Currency is especially important to ...

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