TWE profits drop on back of Penfolds' China tariff hit

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.

TWE pulls Penfolds range from China as 169 per cent tariff kicks in

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.

Photo: Treasury Wine Estates

China announces it will slap big tariffs on Australian wine

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 threatens Australian wine industry as trade dispute grows

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.

Treasury eyes Penfolds split

Treasury Wine Estates is considering a plan to split off its flagship Penfolds brand into a separate company by the end of 2021.