Treasury Wine set for $100m profit bump
The looming restart of Australian wine exports to China is set to deliver an extra $100 million-plus in profits for Penfolds owner Treasury Wine Estates by 2026, analysts say, and will reinvigorate a string of privately owned companies.
Treasury Wine shares climbed by 1.47 per cent to close at $12.46 on the ASX yesterday. In late 2019, the stock was as high as $18.90, before the imposition of harsh tariffs of 175 per cent by the Chinese government in late 2020.
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