Penfolds Maker Benefits From Premiumisation, Particularly In Asia
Published on Aug 16 2019 11:40 AM in Drinks tagged: Trending Posts / Wine / Treasury Wine Estates / Wolf Blass / Penfolds / Paywall
Treasury Wine Estates, the parent company of the Penfolds and Wolf Blass brands, has said that it plans to 'continue its premiumisation strategy' into the coming year and beyond, following strong profit growth in Asia.
The group posted a 16% increase in net profit after tax for its full year, to AU$419.5 million (€257 million), while earnings per share were up 18% to 58.4 cents.
Earnings before interest, tax, SGARA and material items (EBITS) were up 25% on a reported currency basis, to $662.7 million (€405.6 million), with EBITS margin increasing to 23.4%.
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