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Treasury Wine Estates’ US writedowns soar above $1.2 billion
The Penfolds owner’s ill-fated US expansion has taken another hit, with the company writing down the value of the operation by a further $558 million.
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Timeline cronologica
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Treasury Wine Estates’ US writedowns soar above $1.2 billion
The Penfolds owner’s ill-fated US expansion has taken another hit, with the company writing down the value of the operation by a further $558 million.
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Treasury Wine scraps dividend, warns of sluggish growth after $1b loss
Profits at the flagship Penfolds brand declined by 15 per cent in a difficult market where global wine consumption is falling.
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Treasury Wine’s China crackdown shows promise despite $1b loss
The country’s largest listed winemaker does not expect a turnaround until 2028, with performance at its flagship brand offset by poor sales in North America.