Time to Invest in ASX Wine Stocks
Australian wine industry is the fifth largest exporter globally besides being significant contributor to the country’s economy. Demand for alcohol generally remains consistent, making investments in Australian wine stocks less risky during periods of economic uncertainty.?
Treasury Wine Estates Limited (ASX: TWE)
Treasury Wine Estates Limited, releasing its full-year results for 2024, concluding on 30 June 2024, reported a Statutory Net Profit After Tax (NPAT) of $98.9 million.
EBITS rose by 12.8% to $658.1 million, fuelled by robust growth in the Luxury portfolio, particularly in Penfolds and Treasury Americas, which included contributions from the DAOU acquisition in the second half of 2024. When excluding DAOU's impact, EBITS still grew by 6.4%, aligning with the company's guidance for mid to high single-digit organic EBITS growth for the fiscal year 2024.
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