Treasury Wine set for $100m profit bump as Beijing moves to dump tariffs

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The company, mainly through exports of Seppeltsfield Estate and a brand for the Chinese market known as One Pound Per Acre, along with bulk wine sales to China, had built up a strong business prior to the tariffs. “We lost $40 million in revenue a year,” he said, referring to the hit from the tariffs. Penfolds to lead recovery Mr Randall said rivals from Chile and Argentina had taken the shelf space in Chinese retailers. “They got a free kick four years ago,” he said. He said Penfolds would rebound very fast. “The Chinese love Penfolds. They absolutely fell in...