Australia's Treasury Wine to take $189 mln impairment hit in annual results-March 2024-www.financetom.com

Australia's Treasury Wine to take $189 mln impairment hit in annual results

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Australia's Treasury Wine to take $189 mln impairment hit in annual results

Aug 5, 2024 3:49 PM

Aug 6 (Reuters) - Treasury Wine Estates ( TSRYF ) said on

Tuesday it would recognise a non-cash impairment charge in

relation to its premium brands business and announced its

intention to divest its commercial brand portfolio.

Australia's biggest wine producer said its fiscal 2024

results would include an impairment charge of A$290 million

($188.65 million) after tax. It, however, expects to post nearly

a 13% rise in its underlying earnings for the period.

($1 = 1.5373 Australian dollars)

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