Amidst the company's demerger plans for its beer and wine businesses by 2011, brewer and winemaker Foster's Group Ltd (ASX: FGL) reported on Tuesday that it suffered an annual net loss of $464 million for fiscal 2010.

The company said that the 2009/10 results covered a non-cash impairment of $1.163 billion pitted on the carrying value of Foster's wine assets, the total costs of the planned demerger and the encouraging numbers from the sale of its vineyards.

Foster's said that its operating revenue for same period had slumped by 4.8 percent to $4.461 billion as it subsequently announced that no final dividend would be issued for 2009/10.

Company chief executive Ian Johnson said that the potential demerger of its beer and wine making operations were being evaluated at this time and the assessment of issues, costs and benefits of the proposal were right on track.

Mr Johnson added that "management, logistics and capital structure deliberations are progressing well with the process of seeking the necessary tax rulings to commence shortly."

Foster's said that the operational segregation of the company's beer and wine operations in Australia has been essentially complete and "while no final decision has been made, the timeline for a potential demerger remains the first half of calendar 2011."

Mr Johnson underscored that the demerger's attending "cost reductions of $83 million have been included in the 2010 results with full realisation of the $100 million of benefits expected in the 2011 financial year."