Investing
Treasury Wine Estates profit falls on lower US sales
© Reuters. FILE PHOTO: Bottles of Penfolds Grange, a Treasury Wine Estates brand, on sale at a wine shop in Sydney, Australia, August 4, 2014. REUTERS/David Gray/File Photo
(Reuters) – Australia’s Treasury Wine Estates (OTC:) reported a 3.3% fall in annual profit on Tuesday, mainly hurt by a decline in wine sales in the United States.
A decline in shipment of premium products and low availability of luxury wines pressured sales at the Treasury America segment, the largest contributor to the winemaker’s revenue.
The Melbourne-headquartered company also said on Tuesday it had appointed John Mullen as chairman, who will succeed Paul Rayner.
The company reported a net profit after tax of A$254.5 million for the year ended June 30, compared with A$263.2 million a year earlier.
It declared a final dividend of 17 Australian cents per share, compared with 16 cents last year.
Read the full article here
-
Investing6 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Side Hustles7 days ago
5 Key Strategies for a Seamless Cloud Migration
-
Investing7 days ago
Israel stocks lower at close of trade; TA 35 down 0.23% By Investing.com
-
Passive Income7 days ago
Go Paperless with the PDF Reader Pro for $49.99
-
Side Hustles7 days ago
Why the Future of Cybersecurity Marketing Relies on Trust
-
Side Hustles6 days ago
VP Exec’s Top Tips for Negotiating and Relationship-Building
-
Side Hustles6 days ago
Why the Smallest Details Mean the Most in Marketing
-
Make Money5 days ago
The Top Employers and Opportunities for Part-Time Remote Jobs