Did you realise that May 6 was International Sauvignon Blanc Day? (So sorry I missed it…. ) And today is International Albariño Day. (Hmmm…) Seems like every month now has several days claimed as some sort of wine day and christened with a marketing moniker of dubious value. So when […]
Australia’s most famous winemaker, Penfolds, is looking to America for inspiration as Treasury Wine Estates’ (TWE) leading brand looks to extend its influence. Penfolds will begin making wines using grapes from California’s Napa Valley from the 2018 harvest. Penfolds chief winemaker, Peter Gago, said they plan to introduce Californian-sourced wines […]
CEO Michael Clarke went on the offensive after media reports that there was a buildup of the company’s cheaper wines in China. The AFR report sparked a sell off in TWE shares that wiped more than 11% off the value of the stock. Clarke held a 51-minute investor briefing within […]
Penfolds is popular in China, but the preference is for more expensive labels in the range, rather than entry level wines such as Rawson’s Retreat. The company’s share price plummeted more than 11% after the AFR spoke to Chinese distributors who claimed up to 800,000 cases of cheap Treasury Wines […]
Treasury Wine Estates, the owner of premium brands including Penfolds, reported a 37% increase in after tax profit to $187.2 million for the year year to December on the back of strong sales in Asia. The company increased dividends to 15 cents a share, 75% franked, up two cents on […]
Shares in Treasury Wine Estates jumped after the company reaffirmed its growth outlook for Asia. A short times ago, the shares were up 6.2% to $12.94. The owner of the Penfolds and Wolf Blass brands says it continues to have a positive outlook for the imported wine market in China […]
Treasury Wine Estates is positioning itself to take a bigger share of the China market with a new strategy and a new wine. The company has successfully moved from a high volume, mass appeal company to a seller of premium brands. The next step will take the wine maker to […]
The transition of Treasury Wine Estates from an Australian bulk wine operation to an international brand manager is almost done. Today, the maker of Penfolds, Wolf Blass and Wynns, announced that its CEO, Michael Clarke, who has led the company to profitability again, will from next month be temporarily co-located […]
The turnaround of the maker of iconic Australian wine brands Penfolds, Wolf Blass and Wynns is complete. Treasury Wine Estates more than doubled net profit after tax to $136.2 million for the half year to December as the company positions itself as as a premium quality wine maker rather than […]
A court in China has found that Treasury Wine Estates is the owner of Ben Fu, the Chinese name of its flagship Penfolds brand. Ben Fu is the most widely recognised wine brand in China. Penfolds wine, which has Grange among its labels, is marketed as a high quality brand […]
The price of Penfolds Grange, a golden goose made from grapes for Treasury Wine Estates, will jump another 8.3% to a new record of $850 when the 2012 vintage is released on October 20. It’s the first price increase in two vintages, when Penfolds shifted the release date from Autumn […]
Treasury Wine Estates has gone from problem to golden child in just two years since Michael Clarke took over as CEO. Yesterday the company, which owns some of Australia’s most famous brands, including Penfolds, Wolf Blass, Rosemount and Lindeman’s, announced that its profit had more than doubled, sending the share […]
Michael Clarke, the CEO of Treasury Wine Estates, has just been given a $500,000 pay rise, bringing his base pay to $2.2 million. It’s his first increase since he started in the job two years ago but is still below the average $3.8 million paid to chief executives of ASX […]
The appetite for the big taste of Australia’s Penfolds and Wolf Blass wines is growing in China and the rest of Asia. Demand drove volumes for Treasury Wine Estates up 149% in North Asia and 27% in South Asia during the six months to December. Sales revenue in Asia more […]
And launching a rights issue.
Another $15 million.
A big blow.