Treasury Wine Estates reports its revenue from ordinary activities fell 16.6% in the fiscal first half triggering a 394% reversal in its profit. Basic earnings per share were nearly halved to 15.9 cents Australian from 29.5 cents in the first half of fiscal 2024.

TWE’s Chief Executive Officer, Sam Fischer commented:

“Today’s results come at a time when we are already making meaningful progress with the decisive actions required to return TWE to a path of sustainable, profitable growth. Our focus is firmly on the future to strengthen execution and ensure we build a stronger, more resilient business for the long term.

“TWE Ascent is the key enabler of this reset. It is a disciplined, multi year transformation program designed to sharpen our portfolio, simplify the organization and optimize our cost base, and I am pleased with the progress we have made to date.

“Encouragingly, we are seeing our key brands continue to perform in the marketplace and resonate strongly with consumers, reinforcing confidence in the strength of our portfolio and our ability to deliver improved performance as we execute the transformation of the business.”