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Consumer move away from ‘entry-level’ wine brings Penfolds to the fore for Treasury Wine Estates – results data

Olly Wehring
Last updated: 16/02/2023 at 12:00 AM
By Olly Wehring
16 February 2023
1 Min Read

Treasury Wine Estates has steadied its ship as sales in the last six months of 2022 came in flat on the corresponding period a year earlier.


Treasury Wine Estates Portfolio 2022
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Six-month sales - to end of December - dip 1.1% to AUD1.28bn [US$887.8m] Higher-end wines stay strong, softening seen at 'entry-level premium' and 'commercial' price levels Treasury Wine Estates has steadied its ship as sales in the last six months of 2022 came in flat on the corresponding period a year earlier. The top line in the half year - the group's fiscal 2023 H1 - came in down negligibly, by just over 1%. The performance comes six months after TWE posted a near-5% sales slide from the 12 months to the end of June last year. The company had its flagship Penfolds br

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TAGGED:Treasury Wine Estates
Olly Wehring
ByOlly Wehring
Olly has been reporting on the beverage industry as a B2B journalist since 2003. He spent 18 years at Just Drinks, 16 of which as managing editor. Since joining Global Drinks Intel in 2022, he's interviewed the CEOs for brand owners including AB InBev, Campari Group, Carlsberg, Heineken and Suntory Global Spirits and has a bulging contacts book from across beverage alcohol worldwide.
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