Treasury Wine Estates Limited
(ASX:TWE) has announced a series of changes to its supply chain network in Australia and America as part of its cost cutting turnaround.
Australia’s largest listed winemaker will consolidate parts of its operations to optimise efficiency and start a sale process for excess assets including wineries.
CEO Michael Clarke says the company is now embedding a cost conscious culture which will support base earnings and deliver profit growth for shareholders.
Treasury Wine Estates has confirmed it remains on track to deliver $35 million in cost savings over the full 2015 financial year.
Treasury Wine Estates reported a net profit of $42.6 million in the first half of the 2015 financial year.
