Southcorp believes it can battle Foster's Group's hostile $3.1 billion takeover bid thanks to a big increase in half-year net profit.
The company reported a 50% rise in profit to $61 million in the six month period.
The company says that tough market conditions improved.
"This business is well and truly back on track," said CEO John Ballard.
Southcorp "promises an arsenal of strategic benefit and cost-saving figures that would be available to Foster's -- courtesy of its consultant Bain & Co -- to justify a higher bid than the $4.17 on the table.
Southcorp CEO John Ballard hosed down any notion that it was a foregone conclusion that the takeover would succeed."
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