Selling more wines in China, and across Asia more generally, has helped to buoy Treasury Wine Estates in the first half of its financial year as it has cut down on less profitable parts of the markets in the UK and US – with global group profits also up strongly for the six months.
Treasury said today (31 January) that sales of wine rose by 44% in volume in Asia versus the same six months of the previous year, led by its Australian brands – which include Penfolds.
Volumes hit 2.4 million nine-litre cases for the six months to the end of December 2017. Net sales for the region rose by nearly 37% to 218.1 million.
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