Treasury Wine reports profit
Updated at 7:21 am on 18 August 2012
Treasury Wine Estates has reported a significant jump in full year profits. In its first full-year result since demerging from Foster's, the company's underlying profit was $A135.5 million.
Earnings before tax and interest were up an estimated 7.7 per cent on last year's result when it was still in the Foster's stable, despite a 4.4% fall in volume and 5.6% decline in revenue.
Treasury owns more than 50 wine labels, including Lindemans, Penfolds and Wolf Blass. It attributed the increase in earnings to strong sales in Australia and New Zealand.
The company withdrew from Britain and Ireland because of poor sales.
Its final dividend was 7 cents, and full-year dividends totalled 13 cents, 50 per cent franked.
The ABC reports Treasury Wine shares have risen by more than a third since being split from Foster's in May last year.
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