February 13, 2019 / 9:19 PM / 6 days ago

Australia's Treasury Wine posts 17.1 pct rise in HY profit

Feb 13 (Reuters) - Australia’s Treasury Wine Estates Ltd , the world’s largest standalone winemaker, said on Thursday first half net profit rose 17.1 percent as surging sales to its biggest market, China, overcame a slowdown in consumer spending.

The owner of the Penfolds, Beringer and Wolf Blass labels reported net profit of A$219 million ($155.21 million)for the six months to Dec. 31. Analysts’ forecasts called for a rise in net profit of about A$231 million.

Pre-tax profit was A$338.3 million, within the guidance it gave on Jan. 21 of between A$335 million and A$340 million. ($1 = 1.4110 Australian dollars) (Reporting by Nikhil Subba and Aby Jose Koilparambil in Bengaluru Editing by Byron Kaye and Diane Craft)

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