CORRECTED-UPDATE 1-Australia's Treasury Wine sees lower 2021 earnings on China impact
3 Min Read (Corrects headline to remove reference to downgrade of profit forecast and 1st paragraph to remove reference to profit warning) SYDNEY, May 13 (Reuters) - Treasury Wine Estates on Thursday forecast a drop in operating profit for the full year, as the world’s largest listed winemaker reels from the impact of steep Chinese tariffs on Australian wine. The company said it expects earnings before interest, tax, SGARA and material items (EBITS) of A$495 million to A$515 million ($382.64 million to $398.10 million) for 2021, down from A$533.5 million a year earlier. The range, however, ...
Source: reuters.com