Today Treasury Wine Estates [ASX:TWE] shares increased by 1.42%.
They have been consistently growing for the past year. Last March they were trading at roughly $12.00 a share and now their shares trade at $17.16.
As a global wine company, Treasury Wine engages in winemaking as well as wine distribution.
Their market cap sits at $12.243 billion and their enterprise value is $12.87 billion.
Treasury Wine Estates has released its interim 2018 financial results, displaying some positive figures regarding their success.
Transformational changes in regard to the US market route has driven significant portfolio growth.
Sales and distribution in California, Washington and Florida have taken place.
Treasury Wine has acquired new distributor partners in Illinois, Colorado, South Carolina, Iowa and many other states across America.
Chief Executive Officer, Michael Clarke commented on the result:
‘I am very pleased to report another strong result in 1H18. Performance was delivered sustainably, with all regions contributing to EBITS growth and margin accretion. ‘Fixed’ regions, Asia, Europe and ANZ, are outperforming expectations, and we are now taking some exciting steps to really transformour route-to-market in the United States, and further strengthen the long-term outlook for the Americas region.’
Treasury Wine has invested in its sales and marketing capabilities and reduced their shipments to US distributors.
With the release of a new rose under its Blossom Hill brand, Treasury Wine hopes to promote its new product to European sparkling wine drinkers.
CEO Michael Clarke is optimistic about the future prospects of Treasury Wine, stating:
‘I am very excited about the outlook for the Company, and am confident that the business model changes we are making this year, along with an increased availability of high-end wine, will set TWE up for accelerated growth in F19, F20 and beyond’.
Editor, Markets & Money
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