Treasury Wine Estates Limited (AU:TWE) has released an update.
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Treasury Wine Estates Ltd has announced a significant non-cash impairment of $290 million post-tax, primarily due to write-downs in its Commercial brand portfolio, including recognized brands such as Wolf Blass and Lindeman’s. The company also revealed plans to divest from these Commercial brands, which have underperformed in challenging market conditions. Despite this, TWE’s unaudited F24 Group EBITS showed a promising 12.8% increase year-on-year.
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