TWE’s new chief executive struggles to win over investors

9th November, 2020 by db_staff

It’s tough for a new chief executive to announce improved performance but still see their company’s share price slump to a five-year low on the same day.

That’s what happened to Tim Ford of Australia’s Treasury Wine Estates last week.

Mr Ford announced encouraging underlying trends in most of Treasury’s markets in the first three months of the company’s financial year.

Retail sales in the key Asian markets were up 14% and gained 17% in the UK. In Australia and New Zealand the “masstige” range (mass produced wines at prestige prices) priced at $A10 and above grew by 21%, well ahead of the market. Even in Treasury’s disaster area of North America the Focus 9 brand increased sales by a creditable 32%.

Investors, however, largely ignored the progress….

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