News: TWE Australia's Treasury Wine doubles net profit as Asia demand surges

SYDNEY, Aug 18 (Reuters) - Australia-based Treasury Wine Estates Ltd (TWE) , the world's largest standalone winemaker, more than doubled its full-year net profit on Thursday, aided by higher demand from Asia and favourable currency movements for its North American business.

Net profit came in at A$179.4 million ($137.4 million) for the 12 months to June 30, up from A$77.60 million a year ago and in line with an average analysts' forecast of A$181.31 million, according to Thomson Reuters I/B/E/S. The winemaker will pay a final dividend of 12 cents, compared with 8 cents the previous year.

Last month, the Melbourne-based company said it sold 12 U.S. wine brands as it continued to refocus on the prestige market there following the failure of its foray into the low-end segment. ($1 = 1.3058 Australian dollars)