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Penfolds the jewel at Treasury Wine Estates
Simon Evans
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Penfolds owner Treasury Wine Estates says it is performing better than expected in the first few months of the second half of 2020-21 and that earnings are likely to be between $495 million to $515 million for the full year, a touch higher than market consensus expectations of around $480 million.
The company announced to the ASX on Thursday ahead of an investor day briefing by chief executive Tim Ford and his management team that it was likely to produce profit growth of around 33 per cent in the June-half.
Penfolds owner Treasury Wine Estates is doing better than expected.
The Treasury Wine (ASX:TWE) share price lifts 4% on earnings update
Kerry Sun | May 13, 2021 11:06am |
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The Treasury Wine Estates Ltd(ASX: TWE) share price is higher after the company announced key financial updates in its investor day presentation.
What’s driving the Treasury Wine share price?
Treasury Wine’s investor day presentation includes a much needed financial update following China’s tariffs on Australian wine exports and the collapse of the
A2 Milk Company Ltd(ASX: A2M) share price on Monday.
Expected FY21 earnings before interest, tax and SGARA (the difference between the fair value of harvested grapes and the cost of harvested grapes) is reported to be in the range of $495 million to $515 million. These figures are ahead of current market consensus expectations, representing a growth of 33% in 2H21 compared to the prior corresponding period.