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Australia’s Treasury Wine Forced To Sell Brands & Assets – Profit Suffers 43% Drop - superadmin - 02-21-2021
Australia’s Treasury Wine Forced To Sell Brands & Assets – Profit Suffers 43% Drop After China’s Tariffs Punishment
![[Image: Treasury-Wine-Estates-Wine-China-Market.jpg]](http://www.financetwitter.com/wp-content/uploads/2021/02/Treasury-Wine-Estates-Wine-China-Market.jpg)
Treasury Wine Estates is the world’s largest listed winemaker with total revenue of A$2.88 billion in 2019. The Australian company, with a market value of US$7.32 billion, operates in Australia and New Zealand, the Americas, Asia, Europe, Middle East and Africa. Headquartered in Melbourne, Treasure Wine’s business is in the production and marketing of wine.
While the Americas accounted for around 40% of Treasury’s annual revenue in 2019, aggressive “discount war” in the U.S. market that saw oversupply of cheap wine had led the Australian wine giant to issue in January 2020 a warning to its earnings outlook for 2020. By contrast, the massive profitable Chinese market accounted for about a third of the company’s income.
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While the Americas accounted for around 40% of Treasury’s annual revenue in 2019, aggressive “discount war” in the U.S. market that saw oversupply of cheap wine had led the Australian wine giant to issue in January 2020 a warning to its earnings outlook for 2020. By contrast, the massive profitable Chinese market accounted for about a third of the company’s income.
- More -