Snoop Dogg helps Treasury Wines withstand China tariff hit
Key Points
- Full-year revenue ($m) 2683.9, up 0.2pc
- EBITS ($m) 510.3, down 0.4pc
- Net profit ($m) 250.0, up 1.9pc
- Final dividend (¢) 13 v 8
- Date dividend payable: October 1
American rapper Snoop Dogg is proving to be a hugely positive force for Treasury Wine Estates shareholders lamenting a $77 million profit hole left by the punishing tariffs imposed by the Chinese government led by President Xi Jinping.
The company’s 19 Crimes wine fronted by a big marketing and advertising push featuring Snoop Dogg has rapidly grown into a 5-million-case-a-year brand which chief executive Tim Ford believes could one day become a major global brand similar to the group’s flagship Penfolds brand.
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