Aug 6 (Reuters) - Treasury Wine Estates (TWE) said on Tuesday it would recognise a non-cash impairment charge in relation to its premium brands business and announced its intention to divest its commercial brand portfolio.
Australia's biggest wine producer said its fiscal 2024 results would include an impairment charge of A$290 million ($188.65 million) after tax. It, however, expects to post nearly a 13% rise in its underlying earnings for the period.
($1 = 1.5373 Australian dollars)
News: TWE Australia's Treasury Wine to take $189 mln impairment hit in annual results
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