Scottish&Newcastle has loss in last year

Scottish & Newcastle PLC on Tuesday reported a $205 million loss for 2007, expected to be its last annual report before the company is split between brewers Heineken NV and Carlsberg A/S.

The company swung to a loss after turning a profit of 303 million pounds ($592 million) in 2006. Losses were partly because of 430 million pounds ($841 million) in one-time items, including a 379 million pound ($987 million) loss on the sale of a large stake in its wholly owned French on-trade wholesaling business.

The company, which reported revenue was up 7.9 percent to 4.15 billion pounds ($8.1 billion), said sales were affected by poor summer weather in Europe and a new ban on smoking in English pubs.

Scottish & Newcastle's board is backing an 800-pence per share (15.64) bid from Carlsberg and Heineken which values the British company at 7.8 billion pounds ($15.25 billion)

If the deal goes through, Copenhagen-based Carlsberg would gain sole ownership of Baltic Beverages, its Russian joint venture with S&N, and S&N's French, Greek and Chinese operations.

Amsterdam-based Heineken would take control of its British, American, Indian and other markets.

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Baltic Beverages operates 19 breweries, holding the top position in the Russian, Baltic and Kazakh beer markets, and ranks third in Ukraine. Its brands include Baltika, Arsenalnoe, Slavutich and Alma-Ata.

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On the Net: http://www.scottish-newcastle.com