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.
Loading...
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
