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Treasury Wine shares are going nuts on strong Asian sales
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Treasury Wine is turning things around. The company’s shares are up 15% in ASX trade after it delivered significantly upgraded profit guidance. Treasury says earnings for the first half of the financial year will be around $20-30 million higher than analyst consensus. The company, which sells some famous wine brands including Penfolds, Wynns Coonawarra Estate, Wolf Blass, Lindeman’s, and Yellowglen, increased its presence in the US market with the acquisition of Diageo Wine last October for $US600 million.