Treasury Wine Estates, the maker of Penfolds wine, is preparing to re-enter the Chinese market as soon as the market reopens as expected to Australian exports. The company, which reoriented itself towards luxury and premium wine brands to make up for the loss of profits from China, told investors that it expected China to release…
Treasury Wine Estates, the maker of Penfolds, has reported strong earnings growth and margin expansion as the company’s restructure of its wine portfolio towards luxury brands pays off for the company. EBITS for the first half FY23 grew 17 percent to $307.5 million driven by growth in its luxury portfolio of brands, price increases achieved…
Leading prestige winemaker Treasury Wine Estates has all but moved on from the disruptions caused to its businesses by Covid-19 and punitive Chinese trade attacks against Australia. At the company’s annual general meeting this morning chairman Paul Rayner and CEO Tim Ford paid more attention to progress achieved in their new strategy of premiumisation of…
Multi-brand winemaker Treasury Wine Estates has been forced to deny persistent rumours it is still planning to demerge its luxury Penfolds brand from its value and mid-market wine brands. The company announced in April it was considering building shareholder value through a demerger, however in November it told the company’s annual general meeting that it…
Treasury Wine Estates, the manufacturer of the iconic Penfolds Grange Hermitage, has announced a raft of changes in response to China’s imposition of harsh tariffs on Australian wine exports to China. The Penfolds, Grant Burge and Lindemans wines amongst a host of others admitted that the tariff, between 107 per cent and 212 per cent…
Treasury Wine Estates which has been exporting its Penfolds prestige wines to China since 1995 has ‘respectfully’ acknowledged anti-dumping and countervailing duty investigations into Australian wine exports by China’s Ministry of Commerce. Chairman Paul Rayner told shareholders at the company’s annual general meeting that the investigations did not change the company’s long-term commitment to China…
Major premium and commercial wine exporter Treasury Wine Estates has confirmed a likely 21 per cent fall in earnings for the 2020 financial year following trading upset by the impact of the Covid-19 pandemic and a poor harvest. The maker of Penfolds, Grant Burge and Lindemans wines among a host of others told investors that…
Treasury Wine Estates the owner of the luxury Penfolds wine business is to consider a demerger of its operations to allow greater focus on its premium wines. The company announced the results of a strategic review of its operations and said it would pursue one option of spliting off its more commercial brands into a…
BlackRock, the mega funds manager which this week announced an exit from coal investments, has joined the share register of the producer of the iconic Australian red wine Penfolds Grange. The company has bought 7.3 million shares worth $250 million in Australia’s leading wine producer Treasury Wine Estates (ASX: TWE) over recent weeks. The global…
A full set of Penfolds Grange spanning 65 vintages from 1951 to 2015 has set a new world record for the iconic Australian red wine selling for $AU372,000.
