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Business
Australia’s largest listed wine company Treasury Wine Estates has recorded a half-year profit of $109 million despite a 10 per cent dip in earnings, while oil and gas giant Santos has announced a 2021 profit of $920 million.
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Business
Treasury Wine Estates has announced a deal to buy luxury Californian wine business Frank Family Vineyards for $432 million as part of its renewed premium focus in the United States.
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Treasury Wine Estates has reported a 24 per cent fall in net profit after tax to $175.3 million for the first half of the financial year, citing ongoing impacts of the coronavirus and Chines tariffs for the result.
Australia’s largest listed wine company Treasury Wine Estates has unveiled its plan to reduce the impact of harsh Chinese tariffs as its share price continues to slide.
China is set to impose duties on Australian wine of between 107 and 212 per cent from tomorrow following an “anti-dumping” inquiry announced as part of a suite of measures in past months targeting Australian exports.
China has announced an anti-dumping investigation into Australian wine, a move which today smashed the share price of Penfolds owner Treasury Wine Estates and could potentially deal a savage blow to the state’s massive wine industry.
