Revenue ($m) 1424.2, down 8.2pc from year-earlier 1551.2
Pre-tax profit ($m) 284.1 v 366.7
Net profit ($m) 120.9 v 211.4
Interim dividend 15c v 20c, payable on April 1
The chief executive of Penfolds owner Treasury Wine Estates says the group will maintain a big presence in China and is even contemplating a Chinese version of Penfolds as it tries to offset punishing tariffs that caused a sudden profit plunge late in 2020.
Treasury Wines has split out the contribution from mainland China for the first time, which showed that profits tumbled by 37 per cent to $78.8 million for its China business in the six months ended December 31 compared with a year earlier.
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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
