Lion Nathan says Q1 revenue up, lowers yr forecast

WELLINGTON, Feb 14 (Reuters) - Australian based drinks group Lion Nathan Ltd (LNN.AX: Quote, Profile, Research) on Thursday lowered its full year profit forecast by around 2 percent as first quarter revenues rose 6 percent.

The company said it expected a full year profit of between A$265 million to A$275 million ($237 million to $246 million), with the result likely to be around A$13 million lower from costs associated with the acquisition of the Boag brewing company last year.

Last year Lion Nathan posted a net profit of A$267.2 million and had previously forecast a profit of $A270-280 million.

Shares in Lion Nathan closed on Wednesday at A$9.23, having traded between A$8.13 and A$9.99 over the past year. ($1=A$1.12)