Treasury Wine Estates limited
(ASX:TWE) says its business is achieving solid results on the back of sharp cost cutting and an aggressive re-set.
Strategies such as moving the ‘Penfold’s’ release date to October and heavy investment in consumer marketing while cutting costs elsewhere are paying off for the wine seller.
Revenue was up 8.7 per cent for the first half of the 2015 financial year and the company will maintain its 6 cent interim dividend.
Profit came in at $42.6 million, 60 per cent lower than same period last year, a $35 million overhead reduction program remains on track for 2015.
