Treasury Wine Estates losses widen as US impairment confirmed

Treasury Wine Estates today (16 February) booked a jump in half-year losses as the Australian wine group recorded an impairment on its business in the US. The Daou Vineyards brand owner, which has suspended a planned dividend, warned in December an impairment on its US operations was on the horizon due to its “more conservative long-term market growth assumptions” for the country. Treasury logged a non-cash impairment charge worth A$987.6m (US$699.5m) pre tax. The company said the charge was primarily l ...