Treasury Wine Estates’ first half net profit has fallen 60 per cent to $42.6 million but sales and underlying earnings were up for the period.
The previous year’s result was inflated by an $80.5 million tax benefit and CEO, Michael Clarke, said this year begun well, although the re-setting of the business would take some time yet.
The unfranked dividend was reduced by one cent to six cents a share.
AAP