Looking good!
BofAML bullish on Treasury’s China sales
Booming China sales will help Treasury Wine double returns on equity in the next three years by boosting the value of its $1.7 billion wine inventory according to BAML analyst David Errington.
In a note released today Errington said the company would increase its asset turn from 0.4 to 0.6 per cent which will help double return on equity to 16 per cent.
Australian wine statistics released today showed the value of wine exported to China increased by 46 per cent by volume and 56 per cent by value to $739 million
Looking good! BofAML bullish on Treasury’s China sales Booming...
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