Australia's Treasury Wine Estates posts 15.5% rise in annual profit
The country's biggest wine producer reported underlying net profit after tax of A$470.6 million ($307.21 million) for the year ended June 30, compared with A$407.5 million a year earlier.
That missed the Visible Alpha estimate of A$472.1 million.
($1 = 1.5319 Australian dollars)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
10 minutes ago
- Reuters
Fast fashion retailer Shein's UK sales surged to $2.8 billion in 2024
LONDON, Aug 15 (Reuters) - Shein's British business made 2.05 billion pounds ($2.77 billion) in sales in 2024, a 32.3% increase from the previous year, a filing by the online fast-fashion retailer showed early on Friday. Shein does not report global results publicly, but the filing sheds light on its growth in Britain, its third-biggest market after the United States and Germany, as the company works toward an initial public offering in Hong Kong. Founded in China and headquartered in Singapore, Shein has spent years attempting to list, first in New York and then in London, but faced criticism from U.S. and UK politicians and failed to get approval from China's securities regulator for the offshore IPO at a time of increasing tensions between China and the U.S. The global retailer's UK business, Shein Distribution UK Ltd, reported a pretax profit of 38.25 million pounds in 2024, up 56.6% from 24.4 million pounds in 2023. In the filing, Shein highlighted 2024 milestones, such as a pop-up shop in Liverpool, a Christmas bus tour across 12 UK cities and the opening of two new offices in Kings Cross and Manchester. Known for deeply discounted prices, Shein runs constant promotions and offers coupons or rewards that encourage shoppers to keep buying. Shein has taken market share from retailers like ASOS (ASOS.L), opens new tab and H&M ( opens new tab as surging inflation dented consumers' spending power, driving them to hunt for bargains. Shein has also broadened its offering beyond fashion — the UK site sells 7.99-pound ($10.84) dresses and 15-pound ($20.36) jeans, as well as everything from toys and craft supplies to storage units. Shein's business has benefited from customs duty exemptions on low-value e-commerce packages that allow it to send goods directly from factories in China to shoppers' doorsteps largely tariff-free. But that perk is on its way out, driving Shein's costs — and prices — up, particularly in the U.S., where imports from China are now subject to steep tariffs. U.S. President Donald Trump's administration has scrapped its "de minimis" exemption for parcels under $800, and the European Union plans to remove its equivalent duty waiver on e-commerce parcels worth less than 150 euros. Britain is also reviewing its policy on low-value imports after retailers said it was giving online players like Shein and Temu an unfair advantage.
Reuters
10 minutes ago
- Reuters
Britain's Thames Water completes initial debt lifeline drawdown
Aug 15 (Reuters) - Britain's Thames Water said on Friday it has drawn the remaining available amount of its first 1.5 billion-pound ($2.03 billion) tranche of its debt lifeline, securing the company's liquidity needs until at least mid-December. The second tranche of the 1.5 billion-pound super senior facility is expected, if and when it becomes available, to provide liquidity until at least September 2026, Thames Water said, provided certain conditions are met. ($1 = 0.7380 pounds)
Daily Mail
10 minutes ago
- Daily Mail
Lisa Wilkinson and her husband Peter FitzSimons list their long-time lavish Sydney mansion for $23m - following her legal battle with Channel Ten over Bruce Lehrmann case
Lisa Wilkinson and her husband Peter FitzSimons are chasing an eye-popping pay day, as they recently listed their Cremorne estate for $23 million. The couple purchased the landmark Sydney home, called Ingleneuk, for $2.95 million almost 30 years ago in 1998, after selling their Mosman home for $1.66 million. After raising their three—now-adult—children in the 1903-built abode, the pair are looking to downsize, reported the Australian Financial Review on Friday. Prestige realtor Black Diamondz listed the property on their website, with agents Monika Tu and Jad Khattar handling the sale alongside Brad Pillinger of Pillinger. Ingleneuk boasts one of the largest landholdings on the north shore with more than 3,200 sqm, after Lisa, 65, and Peter, 64, restored the land to its original proportions. The property was subdivided decades before the media stars purchased it, but they later recombined the two adjoining lots for dual street frontage. Notable architect Henry Wilshire, the son of Sydney's second mayor, James Wilshire, first designed the home for merchant Charles Crossman. It has only been on the market three times, the first being in 1951, and the second in 1998 when Lisa and Peter first purchased it. The mansion, in its original Edwardian condition, offers panoramic harbour and city views, and has retained all its remarkable features, including prominent eaves. Lisa hired heritage architect Clive Lucas to restore some details of the sprawling home, including its original fence-posts, fretwork and maid's bell. The next buyer will enjoy a sun-room, gourmet kitchen, library, multiple gas and wood fireplaces, lead-light doors, and ornate timber flooring. A heated pool and pavilion surrounded with Will Dangar-designed manicured gardens are also included, as well as approved plans for a triple garage with a studio room. Lisa and Peter reportedly hosted several star-studded bashes at the expansive property, which also features a tennis court. Their annual Australia Day party reportedly saw the likes of Hugh Jackman, Nigella Lawson, Anthony Albanese, the late Sir Michael Parkinson, and Simon Baker. Tim Minchin, Mark Taylor, Matt Shirvington, Mark Bosnich, Brett Lee, Cooper Cronk, and Greg Alexander are also said to have attended gatherings on the property. It comes after Lisa landed a win in her court case against Channel Ten over the infamous Bruce Lehrmann trial. Lisa was on two years of gardening leave to the tune of $1.7 million a year before her time at the network came to an end on New Year's Eve when her contract expired. She joined the network in 2018 after an infamous pay dispute at Nine when she discovered her Today co-host Karl Stefanovic was earning significantly more than her. Everything was going well when she signed a new deal with Network Ten in 2021. But just a year later, she stepped down as host of The Project—her sole on-air role—citing the toll of 'relentless, targeted' media coverage. Despite her lengthy hiatus from the network, Lisa remained in the public eye through her role in a highly-publicised defamation trial. She was embroiled in a case with Lehrmann who sued Network Ten and Lisa over an interview with Brittany Higgins that was broadcast on The Project and online. In February, Network Ten agreed to pay $1.15 million to cover the costs Lisa incurred by retaining separate legal representation rather than using Ten's lawyers. The figure was far below the initial $1.8 million Lisa said she had spent to successfully defend against Lehrmann's defamation claim.
