Treasury Wine Estates has reported a $100.9 million full year loss while recent revenue increases show its “positioned for future success” the Penfolds brand owner said today.

The result reflects a tough year for the international wine group with dual takleover bids and a major restructure after a change of CEO.

Its $100m loss for the year to June 30 compared to a $47.2 million profit in 2012/13.

The loss was driven by $280.6 million in brand and asset impairment charges.

Chief executive Michael Clarke said he is optimisitic about the future given strong increases in revenue since the restructure.

“TWE has delivered this result despite a number of operational and trading headwinds during the year.

“Having taken the necessary steps in the final quarter of fiscal 2014 to drive improved performance, including increasing consumer marketing, reducing TWE’s cost base and addressing structural challenges within the business, I am confident the Company is now positioned for future success,” Clarke said.

“Fiscal 2015 is a reset year for the company.”

Clarke said Treasury was already seeing benefits from its marketing efforts, with a wine fridge promotion for the Penfolds brand surpassing expectations.

“The first half of fiscal 2015 will see the release of the 2015 Penfolds Bins Series and Icon and Luxury wines, including the highly anticipated 2010 Penfolds Grange.

“As announced in June, Penfolds will now be marketed and sold throughout the year and will be available for sale during key festive and gift giving periods.

“With our flexible and robust balance sheet, we remain well positioned to pursue both organic and inorganic growth opportunities”.

Clarke said the US business would be a key growth platform as Treasury increases its presence in the fast-growing luxury category – a segment where it had previously suffered from supply constraints.