February 12, 2020 / 6:54 AM / 10 days ago

REFILE-Australia's Treasury Wine posts 1% drop in HY profit

(Corrects dateline to Feb 12 from Feb 13 and day to Wednesday from Thursday in Paragraph 1)

Feb 12 (Reuters) - Australia’s Treasury Wine Estates Ltd , the world’s largest standalone winemaker, on Wednesday reported an almost 1% fall in first half net profit, pressured by tougher competition in the U.S. market.

The owner of the luxury Penfolds and Wolf Blass labels reported net profit of A$211.4 million ($142.17 million) for the six months to Dec. 31, compared with A$213.4 million the year-ago period. (Reporting by Niyati Shetty and Nikhil Subba in Bengaluru Editing by Shri Navaratnam)

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