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TWE ASX: Penfolds power enables Treasury Wine Estates to lift dividend even as sales drop

Drinkers at the premium end of the market are still spending, even after price rises across major brands – but lower sales of cheaper wines dragged on Treasury.

Treasury Wine Estates profit falls on lower US sales

(Reuters) - Australia's Treasury Wine Estates reported a 3.3% fall in annual profit on Tuesday, mainly hurt by a decline in wine sales in the United S.

Penfolds the top drop for Treasury Wine

Treasury Wine share price limps ahead despite Penfolds sales surging 14%

Treasury Wine share price limps ahead despite Penfolds sales surging 14%
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Treasury Wine Estates profit falls on lower US sales

Australia's Treasury Wine Estates said on Tuesday it was well positioned to deliver growth in fiscal 2024 after the winemaker reported a 3.3% fall in annual profit, mainly hurt by lower sales in the United States. The Melbourne-headquartered company expects demand for luxury wine to grow globally this year, led by its Penfolds label, and with potential upside from improving relations between Australia and China. However, luxury wine sales growth is expected to be modest in its highest revenue-generating segment, Treasury Americas, before picking up from 2025.

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