UPDATE 1-Australia's Treasury Wine Estates' annual profit jumps on Asia thirst [Reuters]
Diageo plc (DEO)
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Source: Reuters
UPDATE 1-Australia's Treasury Wine Estates' annual profit jumps on Asia thirst | Reuters Reuters Staff 2 Min Read (Adds guidance, details on China customs delay) Aug 16 (Reuters) - Australia’s Treasury Wine Estates Ltd , the world’s biggest listed winemaker, said on Thursday annual net profit rose 34 percent as surging demand in Asia helped it overcome delays getting product cleared through Chinese customs. Net profit was A$360.3 million ($260.68 million) for the year to June 30, compared with A$269.1 million the previous year. That beat expectations of A$347.9 million, according to the average forecast of five analysts polled by Thomson Reuters I/B/E/S. The owner of the Penfolds, Wolf Blass and Lindemans labels said it will pay a final dividend of A$0.17 share, compared with A$0.13 the previous year. Under CEO Mike Clarke, Treasury has staged a recovery since a disastrous foray into the U.S. saw it throw out thousands of cases of cheap wine and fend off two takeover offers from priva
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