Australia’s biggest brewer, Lion, has been hit by sluggish earnings growth due to the poor performamce of its dairy operations, according to a report in the Sydney Morning Herald. The earnings disappointment is further proof of a worsening market for dairy producers in Australia, the newspaper says. Kiran shares fell by more than 3%, its biggest slide since November, when the conglomerate announced its annual sales would reach around $28.4 billion by 2015.