Sluggish wine sales hold down Fosters profit

Australia's largest brewer Fosters has posted a 4 per cent profit increase on last year, helped by beer and spirits, but dragged down by poor wine sales.

It's blamed the global credit crisis and the fact people are buying and drinking less wine.

Chief executive Ian Johnston says Fosters is committed to wine, and business will start to improve when the economy picks up.

"There are some challenges and we're not where we want to be with wine," he says.

"But I think we've got a pretty good handle on where the business is and where the opportunities lie."