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Treasury Wine profit drops

1335583_42968226Treasury 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

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