reuters.com

Treasury Wine books A$394m charge to overhaul US business; shares rise

Treasury Wine Estates logoTreasury Wine Estates
Sig4.70Sen+2.80Env+0.90Soc0.00Gov+0.50

Melbourne wine maker Treasury Wine said it will record a A$394 million charge to write down bulk wine inventory and impair assets tied to DAOU, Frank Family Vineyards and Beaulieu Vineyard after reviewing values to June 30. It expects FY EBITS of A$492.3 million, above guidance, and plans to cut North Coast vintage make sizes from 2026, including fallowing vineyards, to address US excess supply.

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