{"id":73129,"date":"2023-10-16T07:40:26","date_gmt":"2023-10-16T11:40:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/treasury-wine-expects-55-2h-earnings-skew-amid-hope-of-china-tariff-review\/"},"modified":"2023-10-16T07:40:29","modified_gmt":"2023-10-16T11:40:29","slug":"treasury-wine-expects-55-2h-earnings-skew-amid-hope-of-china-tariff-review","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73129","title":{"rendered":"Treasury Wine Expects 55% 2H Earnings Skew Amid Hope of China Tariff Review"},"content":{"rendered":"
\n

By Stuart Condie<\/p>\n

<\/pre>\n
SYDNEY–Treasury Wine Estates expects 55% of its fiscal 2024 earnings to come in the second half as it prepares for a possible review by China of tariffs on Australian wine.<\/p>\n
The ASX-listed producer on Monday said that earnings before interest, tax and other items, or so-called Ebits, for the 12 months through June 2024 would likely split 45%-55% between the December and June halves.<\/p>\n
\n
The split results from Treasury’s previously announced decision that the timing of Penfolds shipments across all markets should be determined in part to maintain distribution and pricing flexibility.<\/p>\n
“This is a specific strategy in light of the potential for a future review of tariffs on Australian wine in China,” Chief Executive Tim Ford said in written remarks to be delivered at Treasury’s annual general meeting.<\/p>\n
China is Australia’s largest trading partner and was a lucrative market for local wine producers prior to the 2021 imposition of tariffs that decimated exports and created a local glut of premium wine.<\/p>\n
China imposed swingeing tariffs amid deteriorating diplomatic relations. Treasury is hoping a recent thaw in relations, which has included the lifting of barley tariffs and last week’s release of an Australian journalist from more than three years in detention, could prompt a review.<\/p>\n
<\/pre>\n
Write to Stuart Condie at stuart.condie@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Stuart Condie SYDNEY–Treasury Wine Estates expects 55% of its fiscal 2024 earnings to come in the second half as it prepares for a possible review by China of tariffs on Australian wine. The ASX-listed producer on Monday said that earnings before interest, tax and other items, or so-called Ebits, for the 12 months through […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-73129","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nTreasury Wine Expects 55% 2H Earnings Skew Amid Hope of China Tariff Review | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Stuart Condie SYDNEY--Treasury Wine Estates expects 55% of its fiscal 2024 earnings to come in the second half as it prepares for a possible review by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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