Challenges brewing

European listed companies now have to report under the revised international financial reporting standards. But for UK brewery Scottish & Newcastle, the introduction of IAS 39 is causing some headaches. By Patrick Fletcher

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Scottish & Newcastle (S&N) may not be a household name, but its premium brands – Fosters, Kronenbourg, Becks and Baltika – might be more familiar to the world’s beer drinkers. The UK-based brewer exports to more than 60 countries, and operates or invests in 50 breweries worldwide, including United Brewers in India, Mythos in Greece and the Chonqing Beer Group in China.

Protecting these overseas assets is the focus of the company’s risk management strategy, says Alan Dick, group treasurer at S&N

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