Foster’s Blames Exchange Rate on Disappointing First Half

Dear Client:Foster’s Group blamed “unfavorable exchange rate movements” on its disappointing first half results where the company lost $80 to $90 million in a trading update today. Chief Ian Johnston “reminded” investors of the poor exchange rate between the Aussie and US dollar and British pound. During a conference call, he said “...we do recognize that not all observers are current with their FX rates and we feel it’s helpful to remind of this FX consideration with our business... we