Australia's Treasury Wine Estates posts 15.4% rise in FY profit
Aug 15 (Reuters) - Australia's Treasury Wine Estates Ltd TWE.AX, the world's largest standalone winemaker, said on Thursday its annual profit rose 15.4%, buoyed by demand from Asia and as more consumers developed a penchant for better-quality expensive wines.
Net profit after tax was A$415.9 million ($280.6 million) in the year, compared with A$360.3 million a year earlier. This missed the average analyst estimate of A$436.3 million, according to Refinitiv Eikon data.
The company declared a final dividend of 20 Australian cents per share, higher than the 17 Australian cents per share declared a year ago.($1 = 1.4821 Australian dollars)
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Maju Samuel)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.