42 days ago • Posted by William Ramstein
Treasury Wine Estates drops forecast on steep Chinese tariffs of Australian wine
TWE which is the world's largest publicly listed wine maker pulls back expectations going into the second half of 2021 as Chinese tariffs on Australian wine imports increase. The company said it expects earnings before interest, tax, SGARA and material items (EBITS) of A$495 million to A$515 million ($382.64 million to $398.10 million) for 2021, down from A$533.5 million a year earlier. ($1 = 1.2937 Australian dollars).