News: TWE Treasury Wine Estates Updates On FY20 Earnings Forecast

Feb 25 (Reuters) - Treasury Wine Estates Ltd (TWE) :

• NO LONGER BELIEVES THAT IT WILL ACHIEVE PREVIOUSLY PROVIDED GUIDANCE FOR F20 REPORTED EBITS GROWTH OF BETWEEN 5% AND 10%.
• TWE'S STAFF HAVE NOT YET RETURNED TO OFFICE AND CONTINUE TO WORK FROM HOME
• COVID-19 OUTBREAK MAY IMPACT PERFORMANCE IN MARKETS OUTSIDE CHINA, BUT THIS IS NOT EXPECTED TO HAVE MATERIAL IMPACT
• SHOULD IMPACTS OF COVID-19 BE RESOLVED IN FY20, DOES NOT EXPECT FY21 PLANS TO BE IMPACTED
• CORONAVIRUS OUTBREAK IMPACT ON CONSUMPTION EXPECTED TO BE SUSTAINED TO AT LEAST THROUGH MARCH
• STAFF DISRUPTIONS ALSO BEING EXPERIENCED BY CO'S PARTNERSHIP NETWORK, INCLUDING WHOLESALERS, RETAILERS AND LOGISTICS PROVIDERS.

Source: https://bit.ly/39ZIWCG

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