It has been confirmed by Lion Nathan that it is fully geared to meet its full year profit guidance, following a growth in group sales by 3 per cent in the first nine months of its financial year.

It was forwarded by the brewer - which is supposed to be bought by Japan's Kirin - that its Australian business has seen an enormous growth in the nine months ended June 30, bringing about a 6 per cent lift in net sales revenue.

The company said: "Key markets for Lion Nathan wine continued to be adversely impacted by the deterioration in economic conditions and the effect of this on the wine division has continued in the third quarter."

The Australia business for Lion Nathan's beer volumes grew by five per cent, with popular brands XXXX Gold, Tooheys, Hahn Super Dry and Boag's Draught leading its sales.

The third quarter ended June 30 saw some softening of volumes in New Zealand; however, this was consistent with market trends. According to Lion Nathan, it is prepared to meet its guidance for a fiscal 2009 net profit between $305 million and $315 million, not including costs associated with the Kirin proposal and the scheme of arrangement process.

Lion Nathan chief executive Rob Murray said in a statement: "The investments we have made in our business since 2004 have created a stronger and more flexible business. Lion Nathan chief executive Rob Murray said in a statement. Our people have remained focused and it is particularly pleasing that we are on track for a significant profit step up in 2009, despite weaker economic conditions and an uncertain outlook for many consumers."