NEWS
TWE’S PROFIT GREW 16% THANKS TO STRONG DEMAND FOR PENFOLDS IN CHINA
By Susan Lewis
14-8-2025
Source: Penfolds
Australia's Treasury Wine Estates (TWE) reported 16 percent growth in its annual underlying profit yesterday, driven by robust demand for its flagship Penfolds brand in China and strong contribution from its Treasury Americas portfolios.
Shares of TWE jumped over 5 percent in early trading yesterday to AUD8.06, its highest level in more than two weeks.
The strong performance was driven by surging demand for Penfolds in China following the removal of Chinese tariffs on Australian bottled wine in early 2024.
The group also benefited from a full-year contribution from Daou, the luxury California winery that TWE purchased in October 2023.
Speaking on the results, TWE’s chief executive and managing director Tim Ford said: “Overall, I am pleased with TWE’s performance. While we continued to face headwinds in a number of markets, we remained laser-focused on executing our business plans, further strengthening the business for long-term growth and achieving strong financial performance, underpinned by Penfolds’ continued momentum and integrating Daou into our luxury portfolio.
“We also completed transitioning to our new luxury portfolio-led operating model, a structural evolution that enhances our strategic clarity and positions us well for the future.”
Ford announced in May that he would be leaving the company at the end of September after 14 years and will be succeeded by Sam Fischer.
(the writer can be contacted at: info@thewinechronicle.com)
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