Treasury Wine Estates Ltd (ASX: TWE) today announced its interim 2018 financial result, with Reported Net Profit After Tax (NPAT) up 37% to $187.2m and Earnings Per Share up 38% to 25.6 cents per share. Excluding a one-off tax benefit, EPS would have been 22.7 cents per share.
TWE reported Earnings Before Interest, Tax, SGARA and material items (EBITS) of $283.3m, up 25% on a reported currency basis.
The Company also delivered further EBITS margin accretion of 4.4ppts to 21.9%, highlighting the progress being made in TWE’s journey towards an EBITS margin of 25%.
The Board declared an interim dividend of 15 cents per share, 75% franked, representing a 2 cents per share increase (+15%) and a 54% payout ratio (60% excluding the one-off tax benefit).
On today’s result, TWE’s Chief Executive Officer, Michael Clarke, commented: “I am very pleased to report another strong result in 1H18. Performance was delivered sustainably, with all regions contributing to EBITS growth and margin accretion. ‘Fixed’ regions, Asia, Europe and ANZ, are outperforming expectations, and we are now taking some exciting steps to really transform our route-to-market in the United States, and further strengthen the long-term outlook for the Americas region”.
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