Fosters Group’s wine spin-off Treasury Wine Estates Limited (ASX:TWE) has reported a maiden net profit.
The company’s net profit rose 54.4 per cent to $40 million in the first half of its 2012 financial year.
CEO David Dearie says he was pleased with the company’s progress despite headwinds including subdued consumer confidence, competitive retail conditions and a strong Australian dollar.
Treasury Wines Estates has declared a interim dividend of 6 cents per share, 50 per cent franked.
