07/11/2023 09:10

Treasury Wine Estates Ltd (TWE) $11.51

TWE closed up +4.3% on Monday as the feedback from Prime Minister Albanese’s visit to China became increasingly encouraging. The AFR led with China hails “new starting point - Albanese, Xi stabilise relations”, very different headlines to those created by Scott Morrisons' less diplomatic approach to the world’s 2nd largest economy.

Read more

01/11/2023 09:01

Treasury Wines Estates (TWE) $11.98

On Tuesday, TWE announced the $1.6bn acquisition of upmarket Californian unlisted wine group Daou Vineyards, another foray into the US, which some would argue hasn’t been a great hunting ground for the winemaker over the last decade – 86% of Daou’s trade is in the US. This is a reasonably bold play by CEO Tim Ford; considering its chequered history in the US, we admire his belief and, unlike many, the confidence to take the hard/bold calls, let's hope he’s right!

Read more

19/10/2023 09:26

Treasury Wines Estates (TWE) $12.23

TWE closed up +5% yesterday following comments that Chinese wine tariffs could end in a few weeks, just in time for Anthony Albanese’s visit to Beijing later this year – a much-needed $1.2bn olive branch for our wine industry. Ambassador Xiao said some very encouraging words for the local wine players.

Read more

17/10/2023 09:13

Treasury Wines Estates (TWE) $11.59

Treasury Wines (TWE) +1.31% edged higher after saying that trading conditions remained in line with expectations, consumers are continuing to buy more expensive wines as we witness an ongoing polarisation of wealth. As the company continues to target the resilient luxury wine market, it remains comfortable with its optimistic profit margins in excess of 25%.

Read more

20/09/2023 09:15

Treasury Wines (TWE) $11.52

TWE’s recent FY23 result was In line with prior guidance, the company reiterated high-single-digit average earnings growth long term, led by Penfolds as the main contributor to the bottom line. They also noted the potential for a review of duties on Australian wine by China, with the recent barley decision a positive.

Read more

17/08/2023 09:45

Flagship Growth Portfolio – Amendments

We are amending the Flagship Growth Portfolio.

Read more

15/08/2023 17:08

Treasury Wines (TWE) $11.71

TWE +2.81%: higher today after reporting FY23 results that were inline with expectations and the guidance given in late May. FY23 EBITS of $583.5 was +11% on the year despite revenue being broadly flat at $2.49bn.

Read more

11/07/2023 09:13

Treasury Wines Estates Ltd (TWE) $10.60

We are long TWE in our Flagship Growth Portfolio and it’s been an uncomfortable ride so far including a downgrade in May, not an ideal outcome for a “crowded trade” that is also looking to China for an injection of growth if/when painful tariffs are removed. In May they forecast growth of 11% to 13% on FY22.

Read more

23/06/2023 09:09

Treasury Wine Estates (TWE) $11.50

Wine company TWE has struggled over recent weeks as the company downgraded their FY23 guidance due to demand for luxury wine softening in the US. Importantly, we don’t believe that the share price is accurately reflecting the strong prospect of the Chinese market reopening hence we like the risk/reward into further weakness.

Read more

31/05/2023 09:09

Treasury Wine Estates Ltd (TWE) $11.83

Treasury Wine Estates (TWE) is a premium-focused global wine company that was demerged from Foster's Group (Australia's largest brewer) more than a decade ago. Following in the theme of the past few weeks this morning we have focused on one of our positions that’s not performing as we would like posing the important question – “should we sell, reduce or add?”.

Read more