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Bond Corporation posts 1989 losses.

Bond Corporation posts 1989 losses

Bond Corp. Holdings Ltd. last week announced a loss for fiscal year 1989 of $762.4 million, the greatest loss in Australian corporate history. The company also posted an earnings loss of $633 million for the year ended June 30, compared to an operating profit of $275.8 million a year earlier.

Analysts have said that a good part of Bond's losses stemmed from one-time write-downs of the value of some of Bond's assets.

Bond cited that its brewing interests before interest and tax took a 50-percent dive from 1988's $192.3 million to $96.3 million in 1989. Bond added its G. Heileman Brewing Co. operation was "disappointing, and this has been reflected in the results."
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Title Annotation:Bond Corporation Holdings Ltd.
Publication:Modern Brewery Age
Date:Oct 30, 1989
Words:122
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