Treasury Wine Estates is celebrating an organic net sales revenue rise in Australia of 3.1%, led by gains across its premium Australian wine brands and within the on-premise channel.
Australia and New Zealand reported 15% EBITS growth to $156.5million, driven by growth across the masstige and lower luxury portfolios, improving performance in the on-premise channel and an ongoing focus on managing costs.
Angus McPherson, Managing Director, ANZ & Europe, said: "In many respects ANZ is a gold standard region with strong collaborative relationships with our retail partners combined with the growing portfolio of luxury and masstige brands that we are actively investing behind is combining to deliver excellent results."
TWE also noted that its 25% market share target in Australia had been maintained.
"TWE's size allows us to have that strategic advantage when we are dealing with our customers and I think across the board we have good strategic relationships," McPherson said.
Increased demand for luxury wine in both Australia and overseas pushed global net profit for TWE up by 16% to $419.5 million.
"We are seeing positive growth momentum in a number of our brands, five brands in particular are showing strong growth including Squealing Pig, 19 Crimes, Seppelt, The Stag, and TGallant, all propositions that it continue to drive our growth across luxury and masstige categories," McPherson said.
"TWE is outperforming the market in the $10 to $15 segments and all price segments above $20.
"19 Crimes continues to enjoy spectacular growth, up 135% in volume this year as we continue to drive distribution in Australia.
"Squealing Pig is continue to deliver double-digit earnings growth and is the number one in Australia.
"Our wine-in-can portfolio continues to dominate with TWE retaining the top four cans and leading the category with over 50% value share.
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