Treasury Expecting 25% Profit Growth For Full Fiscal YearMay 1, 2019
In a trading update today, Treasury Wine Estates (TWE) said strong growth in China is expected to help boost earnings by approximately 25% in its fiscal year ending in June. The company added that it expects EBITS to fall in the range of 15%-20% in the following fiscal year, ending in 2020.
After recording a 13% revenue increase to $1.1 billion in its first half ended in December, TWE said it saw record depletions in Asia in the nine months through March, including a strong Chinese New Year performance. The company also noted that it expects to see a 10% increase in its supply of luxury wine for the 2019 Australia vintage, compared with a year earlier.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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